No. Let me please explain how it works. Then, as an intelligent...

No. Let me please explain how it works. Then, as an intelligent investor, make your own conclusions.

Investment banks made good money in underwriting and subsequent fees in capital raising or whatever. If successful they would become trusted advisers of the company and a flow on of business occurred. In turn financial institutions strongly support the companies who gave them this ongoing business.Companies looking for financiers to underwrite and manage their capital markets needs select those bankers whose analysts would give them the positive reports they need. Investment bankers employ analyst that identify with the corporate mission. Analysts that fail to promote the company disappear.
For example, in one email message Mr Blodget referred to infospace, an internet company that he favored publicly as "a piece of junk". There are many examples in internet, like the McLeodUSA story.
These practices were exposed with the dotcome bubble. A wave of lawsuits made investment banks paid millions of dollars to settle allegations of fraud. The problem was that banks did not disclose the conflict of interests when issuing the reports.
And that's the reason why now the disclaimer in CS and any other research note issued by any bank is now 6 pages long. Also, it is the reason why CS tells the readers that they are been paid by the company and look to do more business more them. Disclosing this means that they are telling you that the research is biased and if you buy shares and the company is worthless the only ignorant in the story is yourself. And the bank will be protected against any lawsuit. That's how it works.

And that's it. Now go and buy more shares if you wish so.