I find the comments given below quite useful for a reference:-
Ritholtz culled the research on stock analysts from outside parties like McKinsey and Bianco Research and came to a few meaningful conclusions:
1. Analysts are almost always too optimistic. "Looking a year out, their earnings expectations are about twice the growth rate we've averaged," he says. So far pretty much in line with what we thought, but it gets better from here.
2. Analysts are "especially wrong at turning points as you head into a recession."
3. The "only time they weren't too bullish," Ritholtz notes, "was right in the middle of a recession."