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Analysts and access to company information.

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Question asked 17/05/2025

Analysts and access to company information.

Hi How much, and what sort of, information would an analyst have access to when they're doing research on a company for a report? I'm assuming they wouldn't just have to make do with ASX releases and other publicly available information etc? Regards, Carl

Answer

Hi Carl,

Probably not as much now as it was in the past! They obviously spend time delving into a companies financials while imputing the current numbers and forecasts into their respective models to generate a valuation for the stock. They do have greater access to company management when they cover a stock, and they are invited on things like site tours, analysts days etc, where a company cannot provide any non-public data, however, it does provide them a more indepth understanding or operations, the capability of management, what they are like as people, with the hope/intention of getting a more well rounded view that involves both quantitive and qualitiative inputs. We actually think this can be a hinderance at times, as analysts drink the company coolaide…

At the end of the day, valuations are subjective, and these non-financial inputs do have a bearing on this.

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