Chapters in Fundamental Analysis
Chapter 5 of 7 · 5 min read
Broker consensus, targets and MI research notes
How to use analyst ratings and price targets without being led by them.
Brokerages publish a rating (buy, hold, sell) and a 12-month target price. Consensus aggregates many such views into an average target and a spread of opinion.
Using consensus well
- Look at the dispersion: tight consensus means agreement, wide means uncertainty.
- Track revisions: rising estimates are a stronger signal than a static rating.
- Remember incentives: brokers skew positive and often lag price.
- Check the analyst's track record before leaning on a target.
MI Research Notes
Model-driven notes across the coverage list summarise valuation, momentum and quality in a consistent format, so you can compare names quickly. They are research information, not recommendations.
Key takeaways
- A target is an opinion with a time horizon.
- Revisions and dispersion matter more than the label.
- Cross-check with your own valuation work.
Put it into practice
Open the live page on Market Intelligence and see this concept on real data.
Keep learning
- The AI Desk: a structured bull vs bear debate · Sentiment, News & AI Research
Education only, not investment advice. Updated 2026-10-09.