An analysis can be accurately and professionally done, no doubt about that. It is those 12-24 month forecasts that get it(mostly) wrong. However, it is not about being accurate but about influencing
Having said that, I do take note of the ratings not as gospels of truth but as something that needs to be on my radar. An iron chef would not overlook an ingredient that may be crucial for a particular meal no matter how small amount of that stuff is needed.
Take for instance - FMG
Many brokers have been saying that FMG is overvalued nevertheless it kept on going up. And after about 6 months a broker from Macquarie said - I told you so!
Well, was he right? No, not really. But should we keep an eye on it? Sure.
Macquarie 01/10/2009 5 Underperform $2.23 - 39.9%
The broker has long argued the market is seriously overpricing Fortescue by pricing in ambitious expansion plans with little heed given to the risks involved.
They are off by some $1.50 or about 40%...
And they are getting paid for that!? G, some people got it really easy :)
An analysis can be accurately and professionally done, no doubt...
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$14.53 |
Change
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Mkt cap ! $20.23B | |||
| Open | High | Low | Value | Volume |
| $14.42 | $14.60 | $14.37 | $55.99M | 3.856M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4116 | $14.52 |
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| Price($) | Vol. | No. |
|---|---|---|
| $14.54 | 18085 | 2 |
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