Subjective valuation and target price accuracy
In this paper, we analyze how subjective adjustments to baseline models by analysts affect the forecasting accuracy. For a panel of analyst reports, we show that target price forecasts that deviate significantly from simple multiple-based pseudo-Target prices are (ex-post) more accurate. By controll...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
World Scientific
2022
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |