This story originally appeared on Zacks
Lithia Motors (LAD) closed the last trading session at $289.03, gaining 0.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $442.22 indicates a 53% upside potential.
The mean estimate comprises nine short-term price targets with a standard deviation of $63.80. While the lowest estimate of $303 indicates a 4.8% increase from the current price level, the most optimistic analyst expects the stock to surge 75.4% to reach $507. It’s very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely…