Doesn't mean they are wrong it just means look closely at assumptions and detail . Some report writers are very knowledgeable and diligent - others aren't and many companies also get paid in shares / options so have a implied obligation to talk it up. Hotc opper often was paid with holding or quassie holding for it's " news" stories in history on a 12 month contract etc etc so am wary of so called company promotions looking like research. All adds to knowledge base but many are done to a cut and paste tick a box formulae
They may have better information regarding order of progress after having spoken to management etc but ultimately if it isn't released publicly via ASX announcement , out of CEO mouth or on their website and supported always worth being a skeptic IMO.
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