BROKER FORECASTS

Summary of sell recommendations

In the chart below the columns represent an analysis of correct Sell recommendations by each broker over the last 3 months. The blue section represents Sell recommendations for companies whose share price has dramatically underperformed the FTSE, red represents Sells which have significantly underperformed the FTSE and green represents Sells which have only moderately underperformed the FTSE. To see a full explanation of how to use this chart, please visit the sellers performance explained page.

  Broker >15% 5-15% 0-5% Total
  finnCap 100% 0% 0% 100.0%  
  Cantor Fitzgerald 0% 0% 100% 100.0%  
  Kepler Cheuvreux 0% 25% 63% 87.5%  
  Berenberg 6% 29% 35% 70.6%  
  Citigroup 13% 38% 19% 68.8%  
  Goldman Sachs 10% 25% 30% 65.0%  
  Peel Hunt 25% 10% 25% 60.0%  
  Exane BNP Paribas 5% 27% 27% 59.1%  
  Jefferies Interna... 17% 0% 41% 58.6%  
  JP Morgan Cazenove 11% 14% 32% 57.1%  
  RBC Capital Markets 15% 8% 31% 53.9%  
  Barclays Capital 13% 13% 28% 53.8%  
  N+1 Singer 25% 25% 0% 50.0%  
  Beaufort Securities 0% 0% 50% 50.0%  
  Morgan Stanley 0% 25% 25% 50.0%  

Super sells

The chart below shows the top 15 banks and stockbrokers who have issued the highest proportion of Sell recommendations which have subsequently shown over 15% share price decrease over the past 3 months. This helps you identify those which most consistently predict dramatic share price decreases.

  Broker Super Sell  
  finnCap 100%  
  N+1 Singer 25%  
  Peel Hunt 25%  
  Liberum Capital 19%  
  Jefferies International 17%  
  RBC Capital Markets 15%  
  Barclays Capital 13%  
  Citigroup 13%  
  HSBC 12%  
  JP Morgan Cazenove 11%  
  Goldman Sachs 10%  
  Shore Capital 8%  
  Credit Suisse 8%  
  Numis 6%  
  Berenberg 6%  

Good sells

The above chart shows the top 15 banks and stockbrokers who have issued the highest proportion of Sell recommendations which have subsequently shown a share price decrease of between 5% and 15% over the past 3 months. This helps you identify those which most consistently predict significant share price decreases.

  Broker Good Sell  
  Cantor Fitzgerald 100%  
  Kepler Cheuvreux 63%  
  Beaufort Securities 50%  
  Jefferies International 41%  
  Berenberg 35%  
  Numis 35%  
  JP Morgan Cazenove 32%  
  RBC Capital Markets 31%  
  Goldman Sachs 30%  
  Barclays Capital 28%  
  Exane BNP Paribas 27%  
  Macquarie 26%  
  Morgan Stanley 25%  
  Peel Hunt 25%  
  Deutsche Bank 21%  

Moderate sells

The chart below shows the top 15 banks and stockbrokers who have issued the highest proportion of Sell recommendations which have subsequently shown a share price decrease of between 0% and 5% over the past 3 months. This helps you identify those which most consistently predict moderate share price decreases.

  Broker Moderate Sell  
  Citigroup 38%  
  Berenberg 29%  
  Exane BNP Paribas 27%  
  N+1 Singer 25%  
  Kepler Cheuvreux 25%  
  Morgan Stanley 25%  
  Goldman Sachs 25%  
  Deutsche Bank 21%  
  Societe Generale 20%  
  Macquarie 17%  
  Panmure Gordon 17%  
  HSBC 16%  
  Credit Suisse 15%  
  JP Morgan Cazenove 14%  
  Barclays Capital 13%  

Poor sells

The chart below shows the top 15 banks and stockbrokers who have issued the highest proportion of Sell recommendations which have subsequently shown a share price increase over the past 3 months. This helps you identify those which most consistently predict a share price decrease when the shares have actually risen in value while their Sell recommendation was in place.

  Broker Poor Sell  
  Shore Capital 72%  
  Panmure Gordon 67%  
  Liberum Capital 61%  
  Credit Suisse 58%  
  Macquarie 57%  
  Deutsche Bank 53%  
  HSBC 52%  
  Beaufort Securities 50%  
  Morgan Stanley 50%  
  N+1 Singer 50%  
  Numis 47%  
  Barclays Capital 46%  
  RBC Capital Markets 46%  
  JP Morgan Cazenove 43%  
  Jefferies International 41%