Ideas. Access. Institutional Focus.
Objective research. Experienced analysts. Unmatched distribution.
Equity Research
Independent. Insightful. Built for Small-Cap Issuers.
Are you finding it challenging to gain or maintain consistent research coverage in today’s evolving capital markets? At NOBLE Capital Markets, our independent, company-sponsored research model provides a reliable alternative—offering credible, high-quality equity research that isn’t contingent on investment banking relationships.
Published by our experienced, award-winning analysts, our research focuses on under-covered and underfollowed small-cap companies like yours. As a SEC-registered and FINRA-licensed broker-dealer, we hold our analysts to the highest standards of ethics, objectivity, and regulatory compliance—adding credibility to the research product and confidence for investors.
Through Channelchek, our proprietary investor platform, your research benefits from the broadest, no-cost distribution network in the small-cap space—reaching thousands of retail, institutional, and family office investors actively looking for new opportunities.
Unbiased research. Unmatched access. Real visibility. That’s the NOBLE advantage.
Sector Expertise
We focus where we have deep expertise, ensuring our clients benefit from truly informed insights. Our analysts average over 25 years of experience, with multiple “star analyst” recognitions across sectors.
Healthcare & Life Sciences
Supported by a Scientific Advisory Board, our healthcare team delivers deep domain knowledge across:
- Biotechnology
- Diagnostics
- Medical Devices
- Healthcare Services
- Specialty Pharmaceuticals
- Healthcare IT
Media, Entertainment & Telecom
We cover the full spectrum of legacy and digital platforms, offering insights shaped by industry convergence and evolving consumer behavior:
- Traditional Media: Broadcasting, Publishing, Out-of-Home
- Digital Media: Social, Mobile, E-commerce
- Entertainment & Leisure: Gaming, Events, Music, Travel, Hospitality, Sports & Recreation
- Media Technology: Content Delivery, Search, AdTech
Technology, Enterprise Software (SaaS) and Hardware
Our research spans key verticals driving enterprise innovation and infrastructure evolution:
- Business & IT Services
- Enterprise Hardware and Software
- Government & Defense Tech
- Cybersecurity & GRC
- Artificial Intelligence (AI)
Natural Resources
Our energy and industrials research covers the full value chain:
- Oil & Gas
- Power & Utilities
- Mining & Coal
- Renewables
Transportation & Logistics
We bring domain leadership across global transport sectors:
- Marine: Crude, Product, Chemical, Dry Bulk, LNG, MLPs
- Airfreight & Surface: Trucking, Rail, Intermodal, Warehousing
- Leasing & Infrastructure: Pipelines, Terminals, Toll Roads, Aircraft & Equipment Leasing
Consumer & Retail
We help investors navigate evolving consumer trends and business models across:
- Branded and Private Label Goods
- Consumer Services
- E-commerce and Omnichannel Retail
- Food & Beverage
- Specialty Retail
- Apparel and Footwear
Industrials & Manufacturing
- Industrial Machinery & Tools
- Construction & Engineering
- Chemicals
- Components & Equipment
- Automotive
- Aerospace & Defense
Coverage Universe
At Noble, we recognize that investors have numerous sources for research. That’s why our team is driven by a passion to uncover underfollowed, overlooked, and often misunderstood investment opportunities. Our analysts’ deep industry expertise and comprehensive sector coverage allow us to identify and unlock hidden value through insightful, in-depth research reports.
Our coverage includes both established leaders and emerging innovators within key industry sectors. Click the button below to explore our research coverage, by analyst, on the Channelchek portal and discover the companies we are currently following.
Meet our Equity Research Analysts
Bio
Michael Kupinski joined Noble Financial in 2007 as director of research and Media & Entertainment senior research analyst. Before joining the company, he was the vice president and Media & Entertainment analyst for A.G. Edwards for twenty-three years. He is a member of the National Cable Television Society Foundation and the National Association of Broadcasters. He was a columnist for the Pulse of Radio, a broadcast radio trade publication, and a trustee of the National Television Academy. The Wall Street Journal selected Mr. Kupinski as a ‘Best on the Street’ All-Star Analyst in 1996, 1997, 1999, 2001, 2003, and in 2004 for his stock picking skills. Mr. Kupinski is widely quoted in national publications such as USA Today, The Wall Street Journal, and The New York Times, and is a frequent guest on cable news networks CNBC, CNN, and Bloomberg TV.
Credentials
Director of Research. Senior Equity Analyst specializing in Media & Entertainment. 34 years of experience as an analyst. Member of the National Cable Television Society Foundation and the National Association of Broadcasters. BS in Management Science, Computer Science Certificate and MBA specializing in Finance from St. Louis University.
Named WSJ ‘Best on the Street’ Analyst six times.
FINRA licenses 7, 24, 66, 86, 87
Bio
Joe joined Noble Capital Markets in January 2018 as a Senior Research Analyst. Joe brings over 25 years experience as a Generalist Analyst covering the small-to-mid cap space. Before joining the company, he was Senior Equity Analyst for Wm. Smith & Co. His prior equity research experience includes stints at Oppenheimer & Co., McGinn Smith & Co., where he spearheaded the development of an institutional research effort, C.L. King & Co., Federal Filings, and 13D Research. Joe is a Chartered Financial Analyst and holds an MBA in Finance from Pace University and a BS in Agricultural Economics from Cornell University.
Credentials
Senior Generalist Equity Analyst. Chartered Financial Analyst. Over 25 years experience as a Generalist Analyst focused in the small to mid-cap space. MBA in Finance from Pace University and a BS in Agricultural Economics from Cornell University.
FINRA licenses 6, 7, 24, 63, 86, 87.
Bio
Robert LeBoyer joined Noble Capital Markets in 2021 to cover the Biotechnology and Specialty Pharmaceuticals industry. Mr. LeBoyer began his research career at Prudential Securities, and has previously been a Senior Biotechnology Analyst at Brown Brothers Harriman and Leerink Swann, joining Noble from Ladenburg Thalmann. Robert holds a BA in Economics from Tulane University and an MBA from Columbia Business School.
Credentials
Senior Equity Research Analyst focusing on the Biotechnology and Specialty Pharmaceuticals industry. 16 years of industry experience. BA in Economics from Tulane University and an MBA from Columbia Business School.
FINRA licenses 7, 24, 63, 86, 87
Bio
Mark joined Noble as a senior research analyst with coverage responsibility in the Industrials and Basic Industries sectors. Mr. Reichman previously served as a senior research analyst with Simmons & Company International and with affiliates of Sanders Morris Harris Group in Houston, Texas. Mr. Reichman began his equity research career at A.G. Edwards & Sons, Inc. in 1998 where he covered equities in the energy, mining and electric utility sectors. In 2009 and 2010, Mr. Reichman was recognized in a Forbes special report listing of “The Best Brokerage Analysts” based on earnings estimate accuracy and stock recommendation performance. He has also been listed in the Wall Street Journal’s “Best on the Street” analyst ranking for stock recommendation performance in the Mining & Metals industry. Mr. Reichman has earned his BA in Business Administration from Westminster College, an MBA with a Finance concentration from the University of Missouri – Columbia, and an MA in International Affairs from Washington University in St. Louis.
Credentials
Senior Equity Analyst focusing on Industrials and Basic Industries. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87.
Bio
Patrick McCann joined Noble Capital Markets in October of 2021, having previously worked at Stifel Financial in Manager Research and Trust Investments. He is a generalist Research Analyst, with a primary focus on Communications, Technology and Industrial companies working directly with Michael Kupinski, the Director of Research. Mr. McCann received his BA in Philosophy from Thomas Aquinas College and is a CFA charterholder.
Credentials
Generalist Analyst. Chartered Financial Analyst. BA in Philosophy from Thomas Aquinas.
FINRA licenses 86 & 87