Agree about analysts in general. They're supposed to be ahead of the curve, isn't that why they get paid? Most of the time they are upgrading or downgrading WELL AFTER the fact. What are they paid for anyway? We can all see it after the fact. Nothing special about that.
Well, analysts are paid well...and they almost certainly generate money for the organization hiring them. So, it is an economic activity. But is that activity useful for the average investor...many are disillusioned! BUT IS THEIR ACTIVITY MAKING BIG MONEY FOR SOME? WHO ARE THESE ENTITIES? HOW EXACTLY IS VALUE BEING ADDED BY ANALYSTS?