Tag: icicidirect

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ForecastingFolly

Forecasting Folly:Cox & Kings

This post is in continuation of my forecasting folly series (see here)

On March 31, 2012, Dalal Street’s finest at ICICI Direct put out a buy call on Cox & Kings.The then prevailing price was around 163 Rs and the target price given was Rs.195 (implying an upside of around 20%).

By Nov 16, 2012, the price of Cox&Kings had fallen to around 140 Rs.The good folks at ICICI Direct maintained their buy call and revised the target price to 170 Rs

Now exactly 4 months later, on April 16, 2013 ,Cox&Kings closed at 126 Rs.This is around 36% below the original target price.

Forecasting folly, anyone?

Categories
ForecastingFolly

Forecasting Folly:Opto Circuits

This post is in continuation of my forecasting folly series (see here)

In a report dated Feb 08, 2012, ICICI Direct recommended a buy on Opto Circuits with a price target of Rs.309 as against the then prevailing price of Rs.268

The price of Opto Circuits kept on falling and Dalal Street’s finest kept revising their target price downwards in sync with the falling stock price.

For instance, on Nov 20, 2012, ICICI Direct had a buy on Opto Circuits with a price target of Rs.181 as against the then prevailing price of 106.25.The “target” price was roughly 70% more than the prevailing stock price !

Now fast forward to Feb 26, 2013.The stock is now trading around Rs.50 !This is around 16% of the original target price set one year back by the helpful folks at ICICI Direct !

Forecasting folly, anyone?