why, page-9

BNH

The reports you look at may have been requested by the company to start off with. Read the small print on whether it was independent or whether only relied on info supplied by the company.

Another issue to look for is if the analyst was paid by the company to write the report.

Admittedly the analyst may not belong to an association where membership requires that sort of disclosure in their reports e.g. CFA institute. If there is no disclosure tread carefully.