paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …

' earnings forecasts. We show that measures of prior consensus and individual analyst forecast pessimism are predictive of both … with a relatively high probability of forecast pessimism experience significantly higher announcement returns than those … difficulty investors have in identifying differences in expected forecast pessimism. Overall, we conclude that market prices do …

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i ….e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price … revisions consistent in sign with the earnings forecast revisions, the sign of which is the sign of earnings forecast revision …

reflect the predictable component of analyst forecast errors. This evidence conflicts with conclusions in prior research … characteristic and analyst forecasts predicts future analyst forecast errors, forecast revisions, and changes in buy …/sell recommendations. I document abnormal returns to a strategy that sorts firms based on predicted forecast errors, consistent with …

in the next quarter. Our oil-response forecast strategy earns especially high returns in periods that follow large …

uncertainty, as reflected by greater timeliness with no loss in forecast accuracy. In contrast, analysts have greater difficulty … dealing with heightened market uncertainty, as both timeliness and forecast accuracy decline …