Much of the “Wall Street analyst” has been made as if it were a standard work definition. In fact, the sell-side and buy-side analysts are substantially different. Actually, both devote most of their day studying companies and markets seeking to challenge the winners or losers. Yet the roles are very different on certain fundamental levels.
The interest of both buy-side and sell-side analysts is when the mechanism works as it should.
Smart buy-siders entertain the idea of finding out quickly someone they can trust and depend on within the sell-side community.
Usually, committed sell-side analysts may dig deeper than buy-side analysts, and better know the ins and outs of a given business.
Usually, sell-side analysts operate for brokerages; buy-side analysts work for funds.