I follow stock analysts’ daily picks on a site that i find useful
My observation (no data collected) over the last couple of months of daily monitoring the top analyst picks (only 4 and 5 star analysts) is that their picks between buy and hold are sentiment driven more than fundamental business driven. When sentiment is low, the ‘holds’ out pace the ‘buys’ and the inverse when sentiment seems positive.
Key observation and suggestion: don’t trust the recommendation poke and dig thru the data to understand exactly WHY they made that recommendation. It takes hard work to be a good stock picker and even more work to be a good portfolio manager.