We examine the value of analyst Free Cash Flow (FCF) forecasts in the context of target price changes. We argue that investors can use FCF forecasts to distinguish between FCF based target price changes and less informative target price changes primarily driven by discount rate, long term growth...

The main aim of this World Bank-ESMAP project has been to pave the way for picohydro to become accessible to low-income households in Ecuador, with the view to replicating the process in the Andean region and other developing countries. This has been done through five main activities: (1)...