Sala, Juan Carlos Gómez; Espinosa, Germán López - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005
In this paper we examine the value of analysts’ stock recommendations in the Spanish capital market in the period 1994 … attending its consensus recommendations level and second by changes of consensus level. The portfolio recommendations returns …” stocks and the sell of small shares with negative prices momentum. Finally, the value of analyst’s recommendations is …