The Wall Street Journal has published the results of the first annual "Europe's Best Analysts Survey" in conjunction with FactSet, the US-based company that tracks analysts' recommendations and earnings estimates. The European survey builds on the long-standing Wall Street Journal "Best on the Street" annual survey for US analysts, which has just marked its 21st anniversary.
The "Europe's Best Analysts Survey" ranks top equity securities analysts based on an objective, quantitative evaluation of stock-picking performance. Analysts receive credit for correct buy and sell recommendations, and can be eligible in as many sectors as they meet coverage requirements for.
The survey focuses on more than 20 sectors of key interest to investors, including automobiles, banks, financial services, oil and gas, telecommunications and industrial goods and services. The survey assessed analysts in 11 countries: France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
Awards are given to the top three analysts in each country, and also the top three analysts overall in each sector. Winning analysts will also be identified within FactSet's Estimates reports.
The Wall Street Journal used FactSet Estimates to collect results for this year's survey. FactSet Estimates is an all-inclusive database of analyst recommendations, which provides several dozen estimate types with access to intraday updates. FactSet Estimates uses data from more than 780 contributing brokers to cover more than 16,000 active global companies.