The Investment Recommendations in the Czech Republic: An Appraisers

The purpose of this paper is to perform a comparative analysis of investment recommendations published by the Czech banks and financial institutions, to assess the procedures used for arriving at conclusions on the target prices. Additionally, the paper identifies main points of controversy among published investment recommendations. Based on research, author recommends unifying the methodology of preparing the reports. Such progress would help to prevent discrepancies between the companies with similar financial position, similar core markets and certain parameters showing substantial difference such as the risk free rates or equity risk premia. (C) 2015 Published by Elsevier B.V.