Ecopetrol Reaches Analyst Target Price
August 18, 2016 at 08:57 AM EDT
In recent trading, shares of Ecopetrol SA (EC) have crossed above the average analyst 12-month target price of $8.83, changing hands for $9.06/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level..