A target price for a stock is a figure published by a securities industry person, usually an analyst.
The idea is that the target price is a prediction, a guess about where the stock is headed.
Target prices usually are associated with a date by which the stock is expected to hit the target. (normal practice 12 months)
http://invest-faq.com/articles/adv-target-price.html
The projected price level as stated by an investment analyst or advisor.
A stock trading at $60 might have a one year price target of $90.
http://www.investopedia.com/terms/p/pricetarget.asp
Target price model is basically fundamental analysis technique. But in technical analysis also price targets are given.
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