It has a certain value, but it cannot be relied upon and needs to be analyzed and judged by yourself.

Research reports used by securities firms, expert institutions, or private equity for their own operations are all used internally and are not published in the market. In other words, the research reports you see are all thrown out by them because they think they are unimportant. Yes, it increases the popularity of the institution and researchers. Wrong, you won’t remember them even after a long time. It doesn’t mean that it is completely useless. After all, retail investors have few opportunities to go to the company for on-site research. So for research reports, you have to look at his research data, and then make your own analysis and judgment, rather than looking at his research conclusions.