How do you determine your Target Price?

I always look at TipRanks for stocks’ target prices from analysts. I was doing this blindly, and that is wrong. So, I want to start educating myself on the topic of determining my own target price for a stock.

Basically, what formula or approach should I use for determining what a good price for a stock is? Not necessarily a yearly target price, but what id a good $ value for the current stock.

For example, I see MSFT at $242, and based on my study (which is the topic here)I feel a good price to own the stock at is $275. Good, then I start to scale into the stock. Then later based on a strategy I rework once a month for each stock (for example) I notice the fair price is less than I have, so I start selling as the price gets closer to my DCA.

For reference, MarketBeat has MSFT’s ($242) price target at $300 meanwhile TipRanks average says $292.

So, my question to everyone is two fold:

1. What strategy do you currently use to determine fair price for a stock, or a price target?

2. What resources would recommend for me to learn more about this topic?

Thanks for any replies, I want to get better at this and not just follow something I find on the internet… wait (jk!).