Core Viewpoint - Perrigo (PRGO) shows potential for significant upside, with a mean price target of $36.67 indicating a 36% increase from the current trading price of $26.96 [1] Price Targets - The average price target consists of three estimates ranging from a low of $30.00 to a high of $42.00, with a standard deviation of $6.11, suggesting variability in analyst predictions [2] - The lowest estimate indicates an 11.3% increase, while the highest suggests a 55.8% upside [2] - A low standard deviation indicates a higher agreement among analysts regarding price movement [9] Analyst Sentiment - Analysts are increasingly optimistic about PRGO's earnings prospects, as evidenced by upward revisions in EPS estimates [11] - The Zacks Consensus Estimate for the current year has risen by 0.3% over the past month, with one estimate increasing and no negative revisions [12] - PRGO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - Solely relying on consensus price targets for investment decisions may not be prudent, as analysts' ability to set accurate targets has been questioned [3][7] - Analysts often set optimistic price targets due to business incentives, which can lead to inflated estimates [8] - While price targets should not be ignored, they should be approached with skepticism and not be the sole basis for investment decisions [10]
Wall Street Analysts Think Perrigo (PRGO) Could Surge 36.02%: Read This Before Placing a Bet