Equity research involves analyzing the financial performance and prospects of a company or a particular sector in order to provide investment recommendations to clients. Equity analysts focus on assessing the value of companies' stocks by examining their financial statements, industry trends, competitive position, and other relevant factors. They typically generate reports and recommendations on whether to buy, sell, or hold a particular stock based on their analysis. Equity research is a critical function in the financial industry, as it helps investors make informed decisions about where to allocate their funds.