Financial analysts in China adjust their recommendations based on investors' beliefs, especially after the introduction of new investors through Stock Connect programs. When investors have different beliefs, analysts tend to take extreme positions to attract specific investors. Analysts with buy recommendations become more optimistic, while those with sell recommendations become more pessimistic. Analysts also adjust their earnings forecasts based on whether they align with their stock recommendations. This study provides evidence that analysts cater to investor beliefs, leading to biased recommendations and forecasts.