The Unbearable Silliness of Price Targets
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 7 January 2020
⏱️ 19 minutes
🧾️ Download transcript
Summary
Pier 1 Imports falls 15% after announcing it will close roughly half of its locations. Bill Barker analyzes the challenges facing the home furnishings retailer. Every day Wall Street analysts issue upgrades and downgrades. We discuss why the price targets are the least important part of those reports. Plus, we dip into the Fool Mailbag to discuss Peter Lynch’s classic book “Beating The Street” and a Canadian burger chain.
To read Bill’s original article about price targets, click here:
https://web.archive.org/web/19991128190018/www.fool.com/news/1999/foth991028.htm
Transcript
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| 0:00.0 | It's Tuesday, January 7th. |
| 0:03.6 | Welcome to Market Fullry. |
| 0:04.8 | I'm Chris Hill with me in studio, Bill Barker. |
| 0:07.9 | Happy New Year. |
| 0:09.2 | Thank you. |
| 0:09.8 | Happy New Year. |
| 0:10.9 | We're going to dip into the full mailbag and that's pretty much it because honestly |
| 0:16.8 | it's a slow news day. |
| 0:18.6 | It's a slow news day with the exception of this one retail story which is in its own way remarkable and that is that Pier 1 |
| 0:25.0 | imports is closing 450 locations. Pier 1 is cutting jobs, not surprisingly the stock is down about 15%. |
| 0:35.6 | And I don't know about you, but when I first saw this news, my initial thought was, |
| 0:40.5 | wait a minute, Pier one has more than 450 locations, and in fact they do, when you |
| 0:47.1 | go to their website, they say that they have over a thousand locations. I think as we've talked about with |
| 0:54.2 | other bricks and mortar retailers in the past I think I've identified maybe the |
| 0:59.5 | major problem facing Pier 1 imports which is they have way too many locations. |
| 1:04.0 | Even cutting roughly half of them, they still have way too many. |
| 1:08.8 | So I feel attention here. |
| 1:10.0 | The easy place to go and I'm sure that we'll be going there is you know to to |
| 1:18.6 | mock the whole situation here and I don't want to mock them. |
| 1:23.0 | Dance upon the grave of this perhaps once proud company. |
| 1:27.0 | And, you know, there are employees that are going to be losing their jobs and there are going to be I guess some |
| 1:34.8 | more space in malls to fill. |
... |
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