List of Sell-side Equity Research Firms

Below is a list of firms globally that produce equity research reports to help you identify firms that you want to work at. Some firms might have been bought, use your judgment. Updated as of 6/15/2025

Large Investment Banks

• Bank of America Securities
• Barclays
• Citi
• Deutsche Bank
• Evercore ISI
• Goldman Sachs
• J.P. Morgan
• Jefferies & Co.
• Morgan Stanley
• RBC Capital Markets
• UBS
• Wells Fargo Securities, LLC

US Boutique Research (industry specialty in parenthesis)

• 13D Research
• Alembic Global Advisors (Chemicals)
• Autonomous Research (Financials) - acquired by Bernstein
• Bernstein - JV with Soc Gen
• Bloomberg Intelligence
• Cleveland Research
• Cornerstone Macro
• Fermium Research (Chemicals)
• Fox Advisors
• Gordon Haskett 
• Green Street Advisors (REITs)
• Huber Research (TMT)
• Kalinoswki Equity Research (Restaurant)
• Langenberg & Company
• LightShed Partners (TMT)
• M Science
• Melius Research (Industrials)
• MKM Partners - bought by Roth Capital
• MoffettNathanson (TMT)
• Monness, Crespi, Hardt
• Nephron Research (Health Care)
• New Street Research (TMT)
• Renaissance Macro Research
• Sitodi (small cap)
• Strategas Research Partners
• Summit Insights Group (Technology)
• Telsey Advisory (Retail)
• Vertical Research Partners (Basic Materials / Industrials)
• Webber Research & Advisory (Shipping)
• Wolfe Research
• Zelman & Associates (Homebuilding)

US Middle Market and Other

• Alliance Global Partners
• Argus
• Ascendiant Capital
• B. Riley
• Baptista Research
• Benchmark
• Berenberg Capital Markets
• BTIG - part owned by Goldman Sachs
• Cannonball Research
• Cantor Fitzgerald
• Capital One Securities
• Capitol Securities Management, Inc.
• Chardan Capital Markets
• CJS Securities
• C.L. King
• Colliers Securities
• Consumer Edge Research
• TD Cowen
• Craig Hallum
• D.A. Davidson
• Dowling & Partners (Insurance)
• Edgewater Research
• Edward Jones
• Elazar Advisors
• FBN Securities
• Financial Technology Partners (FT Partners)
• First Analysis
• Gabelli & Co.
• Gilliam & Co.
• GLJ Research
• Global Equities Research
• Griffin Securities
• Guggenheim
• H.C. Wainwright
• Hovde Group
• Janney Montgomery Scott
• JJK Research Associates
• JMP Securities - owned by Citizens
• Johnson Rice
• Kalinowski Equity Research
• Keefe, Bruyette & Woods - owned by Stifel
• KeyBanc
• Ladenburg Thalmann
• Lane Research
• Langenberg & Company
• Lake Street Capital Markets
• Leerink Partners
• LifeSci Capital
• Longbow
• Loop Capital
• Maxim Group
• Mizuho Securities
• Morningstar, Inc.
• Mosaic Research
• Needham & Company, LLC
• Noble Capital Markets
• Nomura Securities
• Northcoast Research
• Oppenheimer & Company, Inc.
• Piper Sandler
• Pivotal Research
• R5 Capital
• Raymond James & Associates, Inc.
• Robert W. Baird & Co.
• Rosenblatt Securities
• Roth Capital
• Seaport Global
• Shapiro Research
• Siebert Williams Shank
• Singular Research
• SMBC Nikko Securities America
• Stephens
• Stifel Nicolaus
• Susquehanna Financial Group
• The Retail Tracker
• Thompson Davis & Co.
• Tigress Financial Partners
• Titan Partners
• Truist Securities
• Tudor, Pickering, Holt & Co.
• Tuohy Brothers
• U.S. Capital Advisors
• Union Gaming
• US Tiger Securities
• Very Independent Research
• Wedbush
• WestPark Capital
• William Blair & Company, LLC
• The Zephirin Group

Canada

• Accountability Research Corp.
• ATB Capital Markets
• BMO Capital Markets
• Canaccord Genuity
• CIBC World Markets
• Desjardins Capital Markets
• Echelon Wealth Partners
• Eight Capital
• Fidelity
• Haywood Securities
• Industrial Alliance
• Laurentian Bank Securities
• Manulife
• National Bank Financial
• RBC Capital Markets
• Scotiabank
• TD Securities

Europe

• ABG Sundal Collier
• ABN AMRO - ODDO BHF
• Agency Partners
• Alphavalue
• Arctic Securities AS
• Arete Research Services
• Atlantic Equities
• Banca Akros
• Banca IMI
• Bestinver Securities
• BNP Paribas
• Bryan Garnier
• Carnegie Investment Bank
• Clarksons Platou Securities AS
• Commerzbank
• Danske
• Davy
• DeGroof Petercam
• Deutsche Bank
• DNB Bank ASA
• Drewry Maritime Financial Research 
• DZ Bank
• Edison Group
• Equita
• Erik Penser Bank
• Exane BNP Paribas
• Fairesearch (Alphavalue)
• Fearnley Securities AS
• Handelsbanken
• HSBC
• Independent Minds
• ING
• InsingerGilissen
• Intermonte
• Invest Securities
• Investec
• KBC
• Kempen
• Kepler Cheuvreux
• Liberum Capital
• Mainfirst (Stifel Europe)
• Mediobanca
• Mirabaud
• Norddeutsche Landesbank
• Nordea
• On Field Investment Research
• Panmure Gordon
• Pareto Securities AS
• Patinex Management AG
• Peel Hunt
• Primavenue
• Redburn
• Santander
• SEB Group
• Societe Generale
• Swedbank

LatAM

• Bradesco
• BTG Pactual
• Credicorp
• Itau
• LarrainVial

Australia

• Barrenjoey Capital Partners
• Bell Porter
• Euroz Hartleys
• Evans & Partners
• Fosters Stockbroking
• Jarden
• MA Financial Group (Moelis)
• Macquarie
• Morgans
• Ord Minnett
• PAC Partners
• Parker Lane
• Shaw and Partners
• Wilsons

Thanks for reading. I will talk to you next time.