Independent research you can check
Penmark Research is an independent, AI-native equity research firm covering listed companies. We publish research that takes a clear view, and we show our sources: every major claim links to the filing, earnings release or call transcript behind it.
- Companies covered
- 17
- Reports published
- 21
- Sectors
- 8
- Pages of research
- 655
What we stand for
Independent
Penmark is a fully independent research firm. Our ratings and price targets are our analysts’ own view.
Sources you can check
Every major claim carries a citation that opens the filing, earnings release or call transcript at the passage it comes from.
A clear call
We set our value before we look at the share price, and we rate a stock Hold only when neither the bull nor the bear case is strong enough to act on.
Read it your way
Read on the site, ask the on-demand analyst about any company we cover, or connect our research to Claude, ChatGPT or your own tools.
What we publish
Deep dives
Initiations of coverage and thematic deep dives, usually 20 to 40 pages. Every one opens with the same two pages: the call, the numbers and the key takeaways, so you can compare companies at a glance.
Read our deep divesEarnings updates
A three-page update after each company’s results, with the key takeaways first and the numbers against our estimates and consensus. Before results, a preview when there’s a call to make.
Earnings calendarHow we rate stocks
Each report sets out a bull, a base and a bear case and weights them. The probability-weighted value sets the 12-month price target and the rating.
- Our probability-weighted value is more than 30% above the price, and our bear-case value is more than half the price.
- Our probability-weighted value is within the Buy and Sell thresholds.
- Our probability-weighted value is more than 20% below the price.
What we cover
Listed companies that investors are actively researching and debating, especially where the range of outcomes is wide. Today that spans technology, healthcare, digital assets, financials, industrials, energy, consumer and communication services, and themes such as ai infrastructure, power generation, quantum computing and crypto exposure.
Research team
Contact us
Questions about our research, coverage requests or corrections: research@penmarkresearch.com