Investment Banks Lose Interest in the Czech Stock Market

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 Research ‘Coverage’ Halves
A study by AKRO investiční společnost, a.s., a Prague based investment firm, shows that since the end of the financial crisis there has been a steep decline in the number of investment banks publishing up-to-date forecasts for companies on the Prague Stock Exchange.
Using Bloomberg Data, the analysis studied the level of research ‘coverage’ for companies included in the Prague Stock Exchange (PX) Index. The term research ‘coverage’ refers to the number analysts’ published financial forecasts for a given listed company. These forecasts are provided mainly by investment banks but occasionally also by independent research firms. For consistency, only forecasts included in the Bloomberg ‘consensus’ were included, thereby ensuring out-of-date forecasts were excluded.

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