FAQ

Questions, answered.

What is issuer-sponsored research?

Equity research paid for, in whole or in part, by the company being analysed (the issuer), produced to disclose that relationship transparently. Under the EU Code of Conduct it becomes a regulated category with a protected label and binding independence standards.

If the issuer pays, how can it be independent?

Independence is enforced by contract. The fee is fixed and unrelated to our conclusions; the issuer may review drafts for factual accuracy only, never for the rating, target or opinion. We downgrade when the fundamentals warrant it. See our Independence page.

Is the EU Code of Conduct already in force?

Not yet. It was adopted by the European Commission as a Delegated Regulation on 21 May 2026 and is in Parliament and Council scrutiny, pending publication in the Official Journal, after which it enters into force on the third day. EERP operates today under MAR (Reg. 596/2014) and Delegated Reg. 2016/958.

What does a BUY / HOLD / SELL mean?

An absolute 12-month total-return view: BUY ≥ +15%, HOLD between −15% and +15%, SELL ≤ −15%. Each rating comes with a 12-month price target. See Ratings & coverage.

How much does it cost to read EERP research?

Nothing. Every report, model and rating is published openly on the day it is released — no paywall, no login, no selective distribution.

Who can read it?

Our research is directed at professional and institutional investors. It is not personal investment advice and is not directed at the general public, nor at persons in the United States or the United Kingdom.

What do issuers get, and on what terms?

An initiation report with a formal rating and target, a downloadable model, quarterly updates and flash notes. Engagements run a minimum of two years with at least 50% paid upfront. See For issuers.

Which markets do you cover?

Listed companies across European, Middle Eastern and Central Asian markets — from small and mid-caps to national champions.