Is CICC a reliable analyst?

In short — Over 1 year, 100% of CICC's targets proved profitable, for an average gain of +52.5% per call (all calls, winners and losers) — i.e. +38.0% vs its sector, across 7 timestamped calls replayed against real prices. JPI verdict: fairly reliable. An analyst can be good in one sector and poor in another — details below.