Trading Scope: Price Target Review on Shares of Aurora Cannabis Inc. (ASX:ACB)

Sell-side equity analysts are typically working super hard to create realistic target prices for stocks that they cover. After a recent market scan, we can see that Aurora Cannabis Inc. (ASX:ACB) has a current average target price of 8.79. These analysts may have different ways that they arrive at a target price. Because target prices are estimates where analysts feel that the stock may be heading, there are obviously no guarantees that the stock price will actually end up there. Investors have the ability to track analyst targets, and they may decide that a specific analyst is right or wrong. Some investors may choose to do their own analysis and see how it compares to what the professionals are thinking. Investors may also have the ability to study the numbers and look at how accurate certain analysts have been with projections in the past. If a specific analyst has a good track record, investors may choose to pay more attention to the target. Because analysts use various methods for creating these estimates, there may be a very wide range of estimates given for a particular stock.

Investors have a few distinct options when approaching the stock market. One option is to follow the crowd and trade with the consensus. Another way is to go against the herd and adopt a contrarian strategy. When it comes down to it, the investor will typically have to make this decision with their best interests in mind. In general, no investor wants to miss out on a winning stock. Far too often, investors will be overcome with the fear of missing out and get into a stock way too late. Just because a stock has been over performing and seeing large gains does not mean that those gains

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