@sina was asking some insightful questions about price targets, and I wanted to take a stab at answering them. Here's some questions:

Ostensibly the value of a price target is to analyze when the value of an opportunity has been fully realized. This helps you know when to sell a stock and move on to new opportunities.

Let's say you've found a company lead by world-class management (let's use Elon Musk as an example). The management is extremely competent and has the ability to execute in markets where success opens up even bigger opportunities to go after.

If your long term growth rate exceeds your cost of capital, your present value is infinite. But a price target can't take into account future unknown opportunities. It's better to just stay invested in the company because it's impossible to put an exact price on it.

Setting a price target for this rare company would be counter-productive, because the value of the opportunity is never fully realized. You want to keep backing sustainable growth forever, if possible. Price targets will only encourage you to jump off the ride too soon.

The best thing that can happen in investing is asymmetric upside. One of the most damaging things you can do to yourself is to cut the biggest returns off too short.

It's important to note that these kinds of companies are truly rare. When the market is exuberant, valuations imply that these companies are ubiquitous, which is not the case.

But that's a fun follow-up question: What are some companies / management teams you think are capable of perpetually growing their businesses?

I'd probably put Jeff Bezos and Elon Musk on the list. Steve Jobs too if he was still around.