> ## Documentation Index
> Fetch the complete documentation index at: https://docs.sterlinglabs.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Reading Sterling's research on a company

> The full report on a company: Sterling's current take, the original initiation, the price-target history and the sources behind every section.

## What a research report shows you

* **Report header** — title, subtitle, the report date, and the switch between **Current Take** and **Initiation of Coverage**.
* **Update card** — on an update report, what changed since the last one: the price-target move, where the stock stands against it, and the KPI Sterling is watching.
* **Sections** and **Resources** — the section list on the left. Beneath it, a podcast discussing the report and the **Financial forecasts** download.
* **Report sources** — the citations for the section you're reading, following you as you scroll.
* **Update Summary** — the share price with every past price target marked on it.
* **Events Stream** — everything Sterling has reviewed about the company, and whether it changed the view.

## Where to find it

1. Open the company, then select **Research** under its name in the left-hand navigation. It opens on **Latest Report**.
2. The other tabs, **Update Summary**, **KPIs**, **Ownership**, **Peers**, **Earnings** and **Events Stream**, sit in the tab bar at the top. A **Data Vault** tab appears for some companies.

## Using a research report

### Read the latest report

The report opens on Sterling's current take. From top to bottom:

* **Header.** The report title and subtitle. The report date sits between **Previous report** and **Next report**, which move between published versions. The initiation shows its **Published** date instead.
* **Update card**, on an update report. Read it first to see whether Sterling's view moved and by how much. It shows the old and new price target, or that the target is unchanged, the current price and the implied upside or downside to the target, how Sterling's view compares with the street's consensus, and the KPI Sterling is watching.
* **Section list**, on the left. Select a section to jump to it.
* **Resources**, beneath the sections. A podcast discussing the report, and the **Financial forecasts** download, when they're available.
* **Report sources**, on the right. The sources for the section in view, changing as you scroll. Select one to jump to where it's cited.

### Compare with the original thesis

Use the switch in the report header to go from **Current Take** to **Initiation of Coverage**. The body shows the report Sterling published when it began covering the company. The option is unavailable for companies without an initiation report.

### Ask about a passage

Select any text in the report, then choose **Explain** to have [the Analyst](/analyst/what-is-the-analyst) unpack it, **Custom Question** to ask something specific, or **Source** to see where it came from.

### Update Summary

Open the **Update Summary** tab. The chart plots the share price with a marker at each past price target, so you can see how Sterling's calls have tracked the stock. Select an update's marker to open its summary in [the Analyst](/analyst/what-is-the-analyst). The initiation's marker has no summary to open.

### Events Stream

Open **Events Stream**. Each research event is a row.

* **Date and time**, **Status**, **Event Type** and a **Quick Take** for each event.
* **Updated** means the event changed Sterling's view. **Skipped** means it was reviewed and didn't.
* Filter with **All**, **Updated** or **Skipped**.
* Select a row for the **Event Details** panel with the reasoning.
* New events flash into the table as they arrive.

## If something goes wrong

| What you see | What it means | What to do |
| - | - | - |
| "No verified forecasts found for …" on Update Summary | Sterling has no price-target history for this company yet | Read the latest report instead |
| "No update summary found for this forecast." | That price target has no update summary to open | Read the report it came from instead |
| "No updates found." | The Events Stream has nothing under the filter you chose | Switch the filter to **All** |

## Frequently asked questions

### How often does the report change?

Whenever Sterling publishes a new report or update on the company. The report date and the **Events Stream** show when. The price target is as of the latest report, not on a fixed schedule.

### What's the difference between Current Take and Initiation?

**Initiation of Coverage** is the first full report. **Current Take** is the latest version of the view, updated as events come in. Comparing the two shows how the thesis has held up.

### Can I send a report to someone without a Sterling account?

Yes. See [Sharing a report](/companies/sharing-a-report).

### What does the price target mean?

Sterling's view of where the stock should trade over the next three to six months, published with each report and shown against the current price as implied upside or downside.

## Related articles

* [Researching a company](/companies/researching-a-company)
* [Sharing a report](/companies/sharing-a-report)
* [Finding research reports](/research/finding-research-reports)
* [What the market is pricing in](/companies/what-is-priced-in)


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