RE: RE: A Reality CheckA beer at 5 bucks it is!
The thing about analysts' price targets is that they tend to change once the actual price converges toward their target.
In all likelihood, Earle won't change his target without some great news coming out before we hit 1.25. If this is the case, then you're right, we'll see a lot of supply hit the market from people/sheep who take his target as the gospel. From a trading perspective, I will probably sell out at 1.20 and wait for the inevitable pullback.
If some great news hits beforehand, though, I expect Earle to up his target. In that case, I'm less certain of what action to take. Usually I wouldn't pay attention to any one analyst's call in order to determine my own course of action, but in this case it is clear that this one call helped to move the market.
Hopefully we'll get some news soon, it's been almost a month since the last NR.
See you on the other side of a buck!