Purpose The purpose of this paper is to focus on valuation practices applied by analysts to derive target price forecasts in Asian emerging markets. The key objective of this study is to understand valuation model preference of analysts and to compare the predictive utility of target price...

Purpose PE and DCF are two popular valuation methodologies used by analysts to derive target price forecasts while performing equity research. Recent studies in developed markets show that analysts using sophisticated models like DCF produce more accurate target price forecasts as compared to...