Methods and Data

which will consist in a series of steps.  First, we plan to collect price target data from analysts of Brendan E. Cryan & Co., Citadel Securities LLC, GTS Securities LLC, IMC Financial Markets, and Virtu Financial Capital Markets LLC, which are market makers in New York Stock Exchange (NYSE) and test if there are correlation and causality in the sense of \citet{Granger_1969} between those series in order to evaluate the impact of market makers analysts' reports.  In addition we will apply a methodology which aims to make it feasible to repeat that procedure taking into account not only market makers but all brokerage companies analysts' reports which operate in NYSE in accordance with Financial Industry Regulatory Authority (FINRA) database and Investment Adviser Public Disclosure website.  Nevertheless, even after we have collected the data the big number of those firms and reports might make it hard to develop to right application to treat those data and therefore that might be postponed to the second part of the project when we will be working with Brazilian data.