Equity Research

Broad scope, deep coverage.

Having the right resources, tools and information can make all the difference when you’re investing. That’s why at Raymond James, we are committed to being one of the premier research providers covering growth companies and serving the institutional and retail communities that invest in them. Raymond James Equity Research serves as a cornerstone of the firm, with approximately 70 research analysts who cover nearly 1,200 companies in nine highly focused industries in North America. Our analysts possess more than 16 years of experience, on average, which affords them the wisdom to make informed investment recommendations.

While our focus remains on small and mid- capitalization companies, our supply chain approach and desire to develop deep sector expertise results in substantial coverage of large-cap companies as well, ensuring we can provide stock recommendations across the market cap spectrum. Our bottoms-up, fundamental approach incorporates our view of an industry’s complete supply chain from key suppliers to manufacturers to distributors to end users. This comprehensive coverage is designed to help investors “connect the dots” in key industries and across national borders and is often supported by proprietary research including surveys, deep dives and access to industry experts. Overall, we seek to leverage information from a multitude of sources and offer informed investment perspectives.

In addition to our company- and industry-focused research, we offer deep insights into public policy issues, including Washington policy and healthcare policy. Additionally, our institutional equity strategy team provides unique and differentiated insights that are geared toward senior investment professionals, portfolio managers and generalists, and is highly complementary to our fundamental research offering. Our research can be further complemented by the expertise of the Raymond James Investment Strategy team, including our chief investment officer, chief economist, and our Equity Portfolio & Technical Strategy team.

By the Numbers

Raymond James is regularly recognized as a top provider of equity research.

  • In 2018, ranked in the top 5 of research providers in North America for the number of companies under coverage and in the top three for North American SMID-cap research.
  • Recognized as a Greenwich Quality Leader for U.S. Small/Mid-Cap Equity Research Product & Analyst Service Quality and as a Greenwich Share Leader for U.S. Small/Mid-Cap Research/Advisory Penetration by Greenwich Associates in their 2018 U.S. Small & Mid-Cap Equity Investors Study.
  • Received 14 awards in the 2018 Thomson Reuters Analyst Awards. The firm has been ranked in the top 10 in the U.S. over the past three-year period and in the top five over the past five-year period for total awards won.
  • Ranked 7th overall in the Brendan Wood 2017 Canadian Equity Research Survey.

Industry Coverage

Consumer

Our Consumer equity research team covers approximately 100 companies. Our U.S. coverage includes the building products (including appliances and other building products, floor covering, and tools and outdoor power equipment), furniture & furnishings suppliers (including office furniture and residential furniture), hardline retail (including active lifestyle brands, automotive aftermarket retailers, consumer electronics retailers, convenience stores, sporting goods, and value retailers), home and other retailers (including big box retailers and furniture & furnishings), household & personal care products, leisure products, and restaurants sectors. We also cover consumer and retail companies based in Canada.

Energy

Our Energy team is one of the largest in Raymond James’ equity research offering, with more than 200 companies under coverage. Our U.S. team covers the sectors of renewable energy & clean technology, exploration & production, independent refiners, integrated oil & gas, midstream suppliers, and oilfield services. Our Canadian affiliate, Raymond James Ltd., broadens our coverage of the critical energy industry with coverage of the power & energy infrastructure, oil & gas producers, oil & gas energy services, and oil sands sectors.

Overall, our coverage includes companies throughout the production and distribution chain of both fossil fuels and emerging alternative energy resources and includes small cap specialty providers of oilfield supplies and services and some of the largest companies in North America, the integrated majors and refiners of oil & gas, and most of the industry niches in between.

Financial Services

The Financial Services equity research team maintains coverage on more than 220 companies spanning the four key sectors of banking, capital markets, insurance, and specialty finance. The majority of the companies under coverage are in the banking sector; our coverage of this sector is among the broadest in the U.S. and includes large-cap multinational financial institutions and small-cap community banks located throughout the U.S, plus a broad array of national and larger regional banks. 

Healthcare

Our coverage of the Healthcare industry encompasses more than 120 companies. Our North American team covers 10 different sectors, including alternate site healthcare providers, animal health, biotechnology, diagnostics and clinical laboratories, health supply chain services, hospitals, hospital supplies & equipment, integrated benefits management, medical devices, and specialty pharmaceuticals. Breadth of coverage is the distinguishing factor of our healthcare research effort. By collectively developing detailed expertise for most facets of the industry, our team is positioned to be better able to identify and quantify for our clients what they believe are the best investments in this dynamic industry.

Industrial

The Industrial equity research team maintains coverage on more than 50 companies based throughout North America in the five sectors of aerospace & defence, chemicals, infrastructure & construction, specialty/industrial distribution, and waste & industrial services. Infrastructure & construction includes coverage of the construction, engineering, and equipment distributors segments in Canada.  Specialty/industrial distribution includes distributors of various construction and industrial supplies in the U.S., and waste & industrial services includes waste collection and industrial services providers throughout North America.

Mining & Natural Resources

The Mining & Natural Resources team covers approximately 60 companies based throughout Canada. The Canada-based mining team boasts a broad coverage universe encompassing the segments of base metals & minerals, precious metals (both gold and silver), and uranium.

Our coverage of the Natural Resources portion of this industry includes the forest products (including building materials and pulp and paper) and fertilizers sectors in Canada.

Real Estate

Our Real Estate research team covers nearly 130 companies, including REITs focused on the healthcare, hotel, industrial, mortgage, net lease, residential, self-storage, shopping center, and timber sectors. In addition to the usual periodic company-specific research, our real estate team offers clients access to a variety of comprehensive quarterly and annual industry overviews that detail both recent significant events and the prospects for the industry, plus the companies within it.

Technology & Communications

Technology & Communications coverage encompasses more than 210 companies operating in 13 sectors spanning the entire IT supply chain. The hallmark of Raymond James’ technology & communications research is an expansive look at the channels and markets for technology products and providers in addition to broad-ranging company-specific research, a necessary approach in this dynamic industry.  Our coverage universe includes smaller, leading edge companies and the most widely known companies in this vital industry.

The bulk of our coverage focuses on companies based in North America, though many operate worldwide.  Our analysts cover the sectors of advanced industrial technology, application software, connected devices, data infrastructure, financial technology & payments,  infrastructure software, Internet,  IT supply chain, IT services, semiconductors, software/IT services, and telecommunications services.

Transportation

Our coverage of the Transportation industry includes approximately 40 companies. Our coverage universe includes the sectors of airlines and a wide array of segments within the broader transportation services sector.  We cover airlines based in the U.S., Canada, Europe, and Latin America; our coverage includes the hybrid carriers, legacy carriers, low cost carriers, and regional carriers operating throughout these four regions.  On the transportation services side, we cover companies operating in the railroads, trucking, and intermodal and asset-light logistics segments throughout North America, in addition to the major parcel carriers based in the U.S. (but operating worldwide).

Macro Insights

As business and policy increasingly intersect, there’s a deep need to understand how regulatory issues will impact the industries we cover now and in the future. Our team includes specialized analysts who offer added layers of insight and context to better support our research and your investment decisions.

Our Washington policy analyst, Ed Mills, concentrates on the impact of Wall Street reform and housing finance policy on the financial markets and provides in-depth analysis of student lending, budget, and corporate taxation policy. He is frequently consulted by policymakers and stakeholders, and his work has been featured extensively in media outlets, including The Wall Street Journal, The New York Times, The Washington Post, American Banker and CNBC.

Chris Meekins, our healthcare policy analyst, focuses on key regulatory and policy issues impacting the healthcare sector, enabling our analysts to deliver differentiated investment ideas to our retail and institutional clients. His broad and deep knowledge of our healthcare system allows him to connect the dots between policy, business fundamentals and equity values.

Our institutional equity strategist, Tavis McCourt, works collaboratively with our fundamental research analysts to identify key investment themes that may cross sectors, regions and asset classes – providing timely investment ideas, particularly in the small- and mid-cap space. It’s a different approach from many other institutional strategists, who tend to operate independent from fundamental research teams while focusing on large-cap stocks.

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