Monday, April 30, 2007

Still Teaching Price Targets

Will the insidious use of price targets by research analysts ever end? Maybe not. The CFA Institute announced today the results of its inaugural “Global Investment Challenge,” where budding researchers compete to produce a winning report on a stock. A team from Babson College presented the winning report on Analog Devices Inc. (NYSE: ADI), which, yes, included a price target of $40.98.

The Institute also gave Jack Treynor of Treynor Capital Management its Award for Professional Excellence. See more