Sotheby's Reaches Analyst Target Price
May 25, 2017 at 09:13 AM EDT
In recent trading, shares of Sotheby's (BID) have crossed above the average analyst 12-month target price of $52.00, changing hands for $52.52/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..