London
THE bullish stock recommendation came with a warning: the company paid us to write this.
With brokers increasingly unable to subsidise research with indirect payments, France's Natixis SA is pioneering a novel approach: charge clients for coverage, a model that has proved to be fraught with conflicts for debt-rating companies.
Analysts Jean-Jacques Le Fur and Philippe Lanone at Natixis published this month their first piece on Transgene SA, a French biotechnology company that's worth US$125 million,...
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