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Research Reports

Overview​

Research Reports provides centralized access to analyst research reports and consensus recommendations from major Malaysian brokers. This powerful feature helps investors and traders understand professional analyst opinions, price targets, and market consensus for stocks, enabling more informed investment decisions based on institutional research.

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Research Reports is a premium feature available only for Pro plan and above subscribers.

Understanding Research Reports​

What is Research Reports?​

Research Reports aggregates professional analyst research from major Malaysian brokerage houses into a single, easily accessible interface. It provides:

  • Analyst Reports - Access to research reports from leading brokers covering company analysis, recommendations, and price targets
  • Consensus View - Aggregated view of all analyst recommendations showing overall market sentiment
  • Report Downloads - Direct access to full PDF research reports for detailed reading

Subscription Tiers​

Research Reports access varies by subscription level:

  • Basic Plan: Not available
  • Pro Plan: Full access to Research Reports and Consensus features
  • Elite Plan: Full access to Research Reports and Consensus features

This feature is designed for serious investors who want to incorporate professional analyst opinions into their investment process.

Research Reports Display​

Layout Structure​

The Research Reports display consists of two main tabs:

Reports Tab​

The Reports tab shows a detailed table of all research reports published for the selected stock, including:

  • Complete list of analyst reports sorted by publication date
  • Key information extracted from each report
  • Direct links to download full PDF reports
  • Filtering and sorting capabilities

Consensus Tab​

The Consensus tab provides an aggregated view of analyst opinions:

  • Visual pie chart showing distribution of recommendations (Positive, Negative, Neutral)
  • Table of current broker recommendations with price targets
  • Quick assessment of overall analyst sentiment
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  • Reports are color-coded based on recommendations for quick visual assessment
  • Green background: Positive recommendations (Buy, Outperform, Overweight)
  • Red background: Negative recommendations (Sell, Underperform, Underweight)
  • No background: Hold, Perform, Neutral ratings

Reports Tab​

Row Color Coding​

Each row in the Reports table is color-coded based on the recommendation:

  • Green background - Positive recommendations (Buy, Outperform, Overweight)

    • Indicates the analyst expects the stock to perform well
    • May suggest accumulation opportunity

  • Red background - Negative recommendations (Sell, Underperform, Underweight)

    • Indicates the analyst expects the stock to underperform
    • May suggest caution or exit opportunity

  • No background - Neutral recommendations (Perform, Hold, Neutral, Ceased)

    • Indicates the analyst expects the stock to perform in line with the market
    • Suggests maintaining current positions

Consensus Tab​

Visual Representation​

The Consensus tab features a pie chart that visualizes the distribution of analyst recommendations:

Pie Chart Display​

  • Positive (Green) - Percentage of Buy, Outperform, and Overweight recommendations
  • Negative (Red) - Percentage of Sell, Underperform, and Underweight recommendations
  • Neutral (Gray) - Percentage of Hold, Perform, and Neutral recommendations

The chart provides an immediate visual assessment of overall analyst sentiment:

  • Dominant green indicates bullish consensus
  • Dominant red indicates bearish consensus
  • Balanced distribution indicates mixed opinions

Features and Functionality​

Filtering​

The Reports tab supports powerful filtering:

  1. Date Filtering

    • Filter reports by publication date range
    • Useful for focusing on recent analysis
    • Access via the Published column filter

  2. Text Search

    • Search report titles by keywords
    • Find reports on specific topics (e.g., "earnings", "dividend")
    • Available in the Title column

  3. Broker Filter

    • Show reports from specific brokers only
    • Compare how different brokers view the same stock
    • Multi-select to include multiple brokers

  4. Recommendation Filter

    • Filter by recommendation type
    • Show only positive, negative, or neutral reports
    • Quickly find bullish or bearish opinions

  5. Note Type Filter

    • Filter by report category
    • Focus on specific types like Results or Updates
    • Useful for earnings season analysis

Sorting​

All columns in the Reports table support sorting:

  • Click column header to sort ascending
  • Click again to sort descending
  • Default sort is by Published date (most recent first)
  • Sort by Target Price to see highest/lowest targets
  • Sort by Broker to group reports alphabetically

Viewing Reports​

Access full research reports directly:

  1. Click the "View" button in the Report column
  2. The PDF report opens in a new browser tab
  3. Reports are processed and optimized for online viewing
  4. Download or save reports for offline reading

How to Use Research Reports​

Basic Usage​

  1. Survey Analyst Sentiment

    • Start with the Consensus tab to get a quick overview
    • Check the pie chart for overall sentiment distribution
    • Review the reports list for individual broker opinions

  2. Read Recent Reports

    • Switch to Reports tab
    • Focus on the most recent publications
    • Click "View" to read full reports of interest

  3. Compare Recommendations

    • Note discrepancies between brokers
    • Identify if there's strong consensus or divergence
    • Consider why different brokers might have different views

  4. Track Changes Over Time

    • Scroll through historical reports
    • Observe how recommendations evolve
    • Note changes in target prices

Advanced Usage​

  1. Target Price Analysis

    • Calculate average or median target price across brokers
    • Compare targets with current market price
    • Assess potential upside or downside
    • Note the range of targets (wide range suggests uncertainty)

  2. Recommendation Changes

    • Look for recent upgrades or downgrades
    • Upgrades may signal improving fundamentals
    • Downgrades may indicate deteriorating conditions
    • Pay attention to the reasoning provided in reports

  3. Consensus Divergence

    • Strong consensus (all positive or all negative) may indicate clear trend
    • Divergent opinions may suggest uncertainty or transition period
    • Contrarian investors may look for opportunities when consensus is too one-sided

  4. Report Type Analysis

    • Focus on "Results" reports during earnings season
    • "Initiation" reports often provide comprehensive company overview
    • "Update" reports may contain new information or changed outlook
    • "Ceased" indicates the broker stopped coverage (worth investigating why)

  5. Price Target vs Current Price

    • If most targets are significantly above current price: potential upside
    • If current price exceeds most targets: may be overvalued or targets outdated
    • If price at target: fair value, limited near-term opportunity
    • Always check report dates - old reports may have outdated targets

Important Notes and Limitations​

Report Coverage​

  • Research Reports are available for stocks covered by major Malaysian brokers
  • Not all stocks have analyst coverage
  • Coverage may be sporadic for smaller companies
  • Larger, more liquid stocks typically have more frequent coverage
  • Blue chip stocks often have coverage from all major brokers

Report Timeliness​

  • Reports are added as they are published by brokers
  • There may be a delay between broker publication and availability
  • Check the Published date to ensure reports are recent
  • Market conditions can change quickly, making older reports less relevant
  • Price targets and recommendations become stale over time

Analyst Accuracy​

  • Analyst recommendations and price targets are opinions, not guarantees
  • Historical accuracy varies by broker and analyst
  • Some analysts and brokers have better track records than others
  • Market conditions can make even good analysis incorrect
  • Consider analyst recommendations as one input among many

Report Availability​

  • Only processed and approved broker reports are available
  • Some reports may not be available due to distribution agreements
  • Comprehensive reports may have restricted distribution
  • Older reports may be archived and unavailable

Independent Research​

Research Reports should complement, not replace, your own analysis:

  1. Read the full reports to understand the reasoning
  2. Verify the assumptions and data used by analysts
  3. Consider factors analysts may have missed
  4. Form your own opinion based on multiple sources
  5. Combine analyst research with technical analysis and market sentiment

Best Practices​

  1. Read Full Reports, Not Just Headlines

    • Download and read complete reports for stocks you're serious about
    • Understand the analyst's reasoning and assumptions
    • Check the valuation methodology used
    • Note the risks and caveats mentioned

  2. Look for Consensus, Not Individual Opinions

    • One positive or negative report is just one opinion
    • Strong consensus (multiple brokers agreeing) is more significant
    • Consider the weight of different brokers based on their track record

  3. Monitor Changes in Recommendations

    • Track upgrades and downgrades over time
    • A series of upgrades may indicate improving fundamentals
    • Sudden downgrades warrant immediate attention
    • Stable recommendations suggest steady state

  4. Compare Target Prices with Valuation

    • Calculate average target price across brokers
    • Compare with current market price
    • Assess implied upside or downside
    • Consider the distribution (tight range vs wide range)

  5. Focus on Recent Reports

    • Prioritize reports published in the last 1-3 months
    • Earnings season reports are particularly timely
    • Older reports may have outdated assumptions
    • Check if major events have occurred since publication

  6. Understand Report Context

    • Check the Report Price to see market context when written
    • Consider what has changed since publication
    • Note if report preceded or followed major news
    • Assess if the analyst's scenario has played out or changed

  7. Use During Earnings Season

    • Reports following earnings are highly valuable
    • Analysts update models with actual results
    • Target prices are often revised post-earnings
    • Compare pre and post earnings recommendations

  8. Cross-Reference with Other Tools

    • Combine with technical analysis from charts
    • Check fundamentals in the Fundamentals widget
    • Review financial statements
    • Monitor news and corporate announcements

  9. Track Broker Specialization

    • Some brokers specialize in certain sectors
    • Note which brokers have deep expertise in your stocks' sectors
    • Consider giving more weight to specialized brokers
    • Build awareness of each broker's strengths

  10. Be Skeptical of Extreme Views

    • Very bullish or bearish outlier opinions may be incorrect
    • Investigate why a broker differs significantly from consensus
    • Contrarian views can be right, but require scrutiny
    • Extreme targets may be based on optimistic/pessimistic scenarios

Frequently Asked Questions​

Q: How often are new reports added?​

A: Reports are added as soon as they are published by brokers and processed by our system. Major brokers typically publish reports:

  • Following quarterly earnings (earnings season)
  • After significant corporate announcements
  • With periodic updates on covered stocks
  • When initiating or ceasing coverage

Q: What's the difference between the Reports tab and Consensus tab?​

A: The Reports tab shows all individual research reports published over time, allowing you to read specific reports and track changes. The Consensus tab aggregates the latest recommendation from each broker to show the current overall sentiment, making it easier to see if analysts are bullish, bearish, or mixed on the stock.

Q: Why do different brokers have different recommendations for the same stock?​

A: Analysts use different valuation methodologies, have different assumptions about growth rates, margins, and market conditions, and may focus on different time horizons. These differences lead to varying recommendations and price targets. Divergent views are normal and actually provide valuable perspective.

Q: How should I use price targets in my investment decisions?​

A: Price targets represent analysts' estimates of fair value, usually on a 12-month horizon. Use them as one data point among many:

  • Calculate the average or median target across brokers
  • Compare with the current market price to assess potential return
  • Consider the range of targets (consensus vs divergence)
  • Note the date of each target (recent vs old)
  • Remember that targets are estimates, not guarantees

Q: What does it mean when a broker "ceases" coverage?​

A: When coverage is ceased, the broker stops publishing research reports on that stock. Reasons include:

  • Lack of institutional client interest
  • Reduced liquidity or trading volume
  • Company became too small or delisted
  • Internal resource reallocation
  • Conflicts of interest
  • Strategic shift in coverage universe

A ceased coverage notice doesn't necessarily indicate negative views, but it reduces available research.

Q: Are these reports the same as what institutional investors receive?​

A: Generally yes. The reports available on the platform are the same research reports distributed to institutional clients. However, some brokers may have additional proprietary research or more detailed models available only to their direct clients.

Q: How reliable are analyst recommendations?​

A: Analyst accuracy varies by broker, analyst, sector, and market conditions. Academic studies show mixed results, with some analysts demonstrating skill while others underperform. Treat recommendations as informed opinions rather than predictions. Track accuracy over time and give more weight to consistently accurate analysts/brokers.

Q: What should I do if all analysts are very bullish or very bearish?​

A: Strong consensus can be a good signal, but also consider:

  • Is the consensus already reflected in the price?
  • Is the consensus based on widely known information?
  • Are there contrarian views you should consider?
  • Is the consensus at an extreme that might reverse?
  • What would need to change to break the consensus?

Sometimes the strongest consensus forms at turning points.

Q: Can I download reports for offline reading?​

A: Yes, clicking the "View" button opens the PDF report, which you can then save or download to your device for offline reading using your browser's save/download functionality.

Q: Why can't I see research reports for some stocks?​

A: Research Reports are only available for stocks that are actively covered by the included brokers. Many stocks, particularly smaller-cap or less liquid stocks, do not have analyst coverage. Additionally, some stocks may have limited coverage from only one or two brokers.

Q: How do I know if a report is outdated?​

A: Check the Published date. Generally:

  • Reports less than 1 month old are very current
  • Reports 1-3 months old are reasonably current
  • Reports 3-6 months old may be getting stale
  • Reports over 6 months old should be verified against recent developments

Also consider if major events (earnings, corporate actions, market changes) have occurred since publication.

Summary​

Research Reports is a valuable tool that provides centralized access to professional analyst opinions and research. By aggregating reports from major Malaysian brokers, it helps investors:

  • Access professional investment research and analysis
  • Understand analyst consensus and divergent views
  • Track recommendation changes and target price evolution
  • Download and read detailed reports for deeper understanding
  • Make more informed investment decisions with institutional-grade research
  • Compare opinions across multiple brokerage houses

Remember that Research Reports is one tool in your investment toolkit. Always combine analyst research with your own fundamental analysis, technical analysis, market monitoring, and risk assessment. Analyst opinions are valuable inputs but should not be the sole basis for investment decisions.

For optimal results, maintain an active Pro or Elite subscription to access this premium feature, enabling you to leverage professional research alongside your own analysis for superior investment outcomes.