valuation. In our empirical application, we use 𝑄 to relate analyst forecasts to stock returns and measure the profitability of … existing pure earnings-forecast momentum strategies and remain profitable after transaction costs. We show that analysts …

In this study, we analyze the forecast accuracy and profitability of buy recommendations published in five major German … financial magazines for private households based on fundamental analysis. The results show a high average forecast accuracy but … with a very high standard deviation, which indicates poor forecast accuracy with regard to individual stocks. The …