Wall Street Analysts Believe AngioDynamics (ANGO) Could Rally 94.32%: Here's is How to Trade

Group 1: Stock Performance and Price Targets - AngioDynamics (ANGO) shares have increased by 5% over the past four weeks, closing at $6.69, with a mean price target of$13 indicating a potential upside of 94.3% [1] - The mean estimate includes three short-term price targets with a standard deviation of $1, where the lowest estimate of$12 suggests a 79.4% increase, and the highest estimate of $14 indicates a 109.3% surge [2] Group 2: Analyst Consensus and Earnings Estimates - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential stock price increases, as indicated by a positive trend in earnings estimate revisions [4][9] - The Zacks Consensus Estimate for the current year has increased by 0.8% due to one upward revision over the last 30 days, with no negative revisions [10] Group 3: Analyst Behavior and Price Target Reliability - Analysts often set overly optimistic price targets due to business incentives, which can lead to inflated estimates [6] - A low standard deviation in price targets indicates a high degree of agreement among analysts regarding the stock's price movement direction, serving as a starting point for further research [7]