This post is in continuation of my Forecasting Folly series (see here)
On 7th March, 2011, Dalal Street’s finest at Sunidhi Securities came out with a research report on Gokul Refoils.
The then prevailing price was Rs.98, a target price of Rs.125 was assigned to the stock.
Fast forward, 18 months later, Gokul is languishing at around Rs.44 (today’s price).
This is one third of the target price and half of the then prevailing price.
Forecasting folly, anyone?