In my opinion you have to equate Analysts to marketing/PR people. Just as you (hopefully) don't think you'll be better looking if you use Avon soap - as the marketing would like you to believe, why would you think that you'll get wealthier if you buy a stock an analyst recommends?
Most analysts work for either brokerage houses or investment banks. Brokerage analysts role in life is to create "interest" in a stock and hence generate commissions through their brokers. Investment bank analysts typically support the companies they take public (and have a significant position in) by issuing positive statements. They are in both cases only trying to generate business and revenue for themselves and their company - not for you.
The only value of analysts, imho, is to trade off of the news price-ripples they cause when issuing up and down grades
