Implications of consensus target prices

Munda, Gal (2009) Implications of consensus target prices. [Dissertation (University of Nottingham only)] (Unpublished)

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Equity analysts are one of the most important players on the capital markets. They directly influence price movements of the analyzed stock. The main outputs of the analysis are the buy, hold or sell ratings and the analysts’ target prices.

This dissertation tests whether the difference between the consensus target price and the actual stock price remains stationary over the long period of time. If that is true, we can develop simple rules which would enable us to use the Target-to-real stock price ratio (TRP ratio) to identify buy/sell signals for specific stocks.

Item Type: Dissertation (University of Nottingham only)
Keywords: consensus target prices, Black-Litterman portfolio optimization, Value-at-Risk, Minimum-variance optimization, Efficient market hypothesis, EMH, technical analysis, equity analysts
Depositing User: EP, Services
Date Deposited: 03 Feb 2010 13:00
Last Modified: 25 Dec 2017 17:17

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