I have a stock that rose pretty heavily after a bank had given it a price target at 8$, a lot higher (300%) than yesterday 1,8$. After this the stock rise 35% to 2,5$. The question is how it is regarded as valuable information though since the bank itself owns 0,7% of the total amount of stocks in that company?
Isn't this phenomena of price targets pretty biased? Why do people listen to biased analysis?
Edit: Spelling
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