Core Viewpoint - Carter Bankshares, Inc. (CARE) shows potential for significant upside, with a mean price target of 17.62 [1] Price Targets - The average price target consists of three estimates ranging from a low of 24, with a standard deviation of $1.73, suggesting a consensus among analysts [2] - The lowest estimate indicates a 19.2% increase, while the highest suggests a 36.2% upside [2] Analyst Sentiment - Analysts exhibit strong agreement regarding CARE's ability to report better earnings than previously predicted, which supports the expectation of stock upside [4] - A positive trend in earnings estimate revisions has been shown to correlate with stock price movements, indicating potential for growth [9] Earnings Estimates - Over the last 30 days, two earnings estimates for CARE have been revised upward, with no negative revisions, leading to a 4.6% increase in the Zacks Consensus Estimate [10] - CARE holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, further indicating potential upside [11] Caution on Price Targets - While price targets are a common metric, they should not be the sole basis for investment decisions due to historical inaccuracies in predicting actual stock price movements [5][8] - Analysts may set overly optimistic price targets influenced by business relationships, which can lead to inflated expectations [6]
Does Carter Bankshares (CARE) Have the Potential to Rally 30.53% as Wall Street Analysts Expect?