"Research Analysts analyze the published data of companies and industries and make forecast or recommendations about whether to buy, hold or sell securities". Elucidate the same in the light of SEBI (Research Analyst) Re

Research Analysts analyse information to provide recommendations about investments in securities to their clients. Investors often view analysts as experts and important sources of information about the securities they review and often rely on their advice. There are three broad type of analysts: Sell-side analysts: They typically publish research reports on the securities of companies or industries that they cover. These research reports carry specific recommendations, such as recommendation to buy, hold or sell the subject security. It also includes the analyst's expectation of the future price performance of the security ("price target"). Buy-side analysts: They generally work for money managers like mutual funds, hedge funds, pension funds, or portfolio managers that purchase and sell securities for their own investment accounts or on behalf of others. Research reports of these analysts are generally circulated among the top management of the employer firms as these reports contain advice about securities to buy, hold or sell. Independent Analysts: They work for research originators or boutiques firms that are legal entities separate from full service investment firm and sell their research to others on a subscription or other basis. The activities of Research Analyst in India are governed by SEBI (Research Analysts) Regulations, 2014.