§ Valuation models
Price target
Glossary version 2026-07-12.v1 · reviewed July 12, 2026
An analyst’s estimate of where a share price may trade by a stated future date, often twelve months. Its horizon and purpose differ from an intrinsic Fair value estimate.
A price target estimates a possible market price at a specified horizon, commonly twelve months, and may incorporate expected sentiment or multiple changes. Fair value estimates what the business is worth from its economics and can use a different horizon. Reports label external targets clearly, compare them with the independent valuation, and never silently substitute consensus targets for the calculated house Fair value.