Where did the Street come out? Somehow nearly all within our "back of the envelope" $218-269 range -- for a summary, please see Eric Savitz's Tech Trader Blog in Barrons (busy man - we suspect he has help). We normally won't relay Wall Street targets/estimates as our focus is on our own research, but we find the large sample of very similar target price "results" (per Barrons post) interesting.
Of course, it's not difficult to derive a new price target based on an average historic P/E multiple and an upward revised EPS estimate -- the hard part is estimating the EPS before the big stock move and getting "the call" right. Per the below table sourced from Barrons, more analysts are positive now than three months ago.
Disclosure: no position.
© 2009 Jeffrey Walkenhorst
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