股票目标价特征、表现与投资价值研究

Research on the characteristics,performance and investment value of stock target price

在证券市场交易中,目标价被投资者广泛地用于判断最佳买点或卖点,以期实现投资收益最大化。然而,在证券市场中,目标价普遍存在偏高且表现不佳等问题,其交易参考价值受到了各方质疑。本文选取一系列不同行业沪深上市公司作为样本,对证券分析师在不同市场行情内发布的目标价特征、表现与投资价值进行实证研究。实证结果表明:在沪深市场中存在着目标价过高、表现不佳,且投资价值偏低等问题,投资者需谨慎且有策略地运用目标价进行证券投资。

The target price has been widely used in the stock market transaction to determine the best buying or selling point,so that the investment return can be maximized.However,the target prices are often too high and their underperformance have been discovered,thus subject to great doubt.This study selects a series of listed companies from Shanghai and Shenzhen stock exchanges,and then investigates the characteristics,performance and investment value of their target prices.The study results show that the target prices are generally high,underperformed and low investment value,investors should apply target price cautiously into stock investment.