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The rules say that price objectives for a stock should be made "with a reasonable basis".
Without this the farm income and price objectives could not have been achieved except by more stringent output limitations, lower farm prices, and larger direct government payments.
The agricultural price objectives of the Treaty of Rome, which established the EEC, also lack practical significance: To ensure... a fair standard of living for the agricultural population, particularly by the increasing of the individual earnings of persons engaged in agriculture; to stabilize markets; to guarantee regular supplies; and to ensure reasonable prices in supplies to consumers.
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Ahead of Home Retail's trading update on Thursday, Merrill lifted its recommendation on the Argos and Homebase business: We have raised our earnings per share forecasts for Home Retail by 4% and our price objective from 95p to 100p due to an assumption of better cost control for Argos, with [cost] savings to come in the second half.
Merrill reiterated a "buy" rating and $48 price objective.
I have a price objective of 45 over the next 12 months.
Count: A point and figure technique used to estimate a price objective or target up or down.
This week, CIBC World Markets analyst Elliot Wilbur reiterated his "strong buy" rating on Barr and raised his year-end price objective to $96 from $82.
Compaq cpq rose 2 5/8 to 42 11/16 after Morgan Stanley Dean Witter raised its price objective for the share to $55.
The research outfit's "least favorite" stock in the group is Charter Communications, which is rated at "neutral," with a price objective of $6.
His 12 to 18 month price objective is $70, or 32.9 times his calendar 2000 earnings estimate of $2.13 a share.
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