Analysts play an important role in the market, setting expectations and giving investors with limited resources research either to base their investments on or to use as a starting point for ideas, so systemic bias among analysts could result in systemic over- or under-buying among investors. “We have also been concerned with this topic and concluded that when potential biases are removed the information content of analysts’ forecasts becomes much more significant,” says a recent Citi report from Chris Montagu and Liz Dinh introducing new academic research on the topic. Performance forecasts against stocks recommendation Economists Byoung-Hyoun Hwang at Purdue…