This Is, Without Question, Wall Street's Most Ridiculous Price Target
Wall Street offers few guarantees, other than unpredictability. The smartest investors on Wall Street will be lucky if they're right around 60% of the time.
Nevertheless, Wall Street analysts, pundits, and money managers are often looked up to by investors as people with an above-average understanding of the companies, industries, and sectors they cover. In other words, there's a built-in expectation that individuals with a Wall Street connection are going to outperform and be right more often than the average investor. But this isn't always the case.
In many instances, analysts reactively, rather than proactively, adjust their firm's price target on a stock. Despite their stock-specific and industry know-how, Wall Street analysts are just as fallible as everyday investors.
Source Fool.com
