My advice - for whats its worth - when it comes to analyst...

My advice - for whats its worth - when it comes to analyst research, forget about target prices and read the report. look at what they are and are not saying... if you get a chance - talk to the analyst as they can say a lot more than what they can write.

Directional comments in research indicating positive or negative views are important in my opinion. on the other hand, target prices reflect forecasted numbers and wacc assumptions which can swing the NPV wildly (+/- 50%) depending on what position you take...