Just wondering..seems like such a weird concept..how did banks just decide to rate companies and list a target price? And what made companies go along with this? Sounds like a major shift of power from the companies to Wall Street.
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Equity research -> DCF/comps for a target -> mgt comp tied to share price -> want to beat expectations to raise share price
ER provides a basic understanding of what a company might be worth and so that can be an unfortunate standard sometimes
I made 20% on SSNI today after earnings. You guys should buy so I can make more.
Just a bunch of chads dicking around, that's all.
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