Are Nifty targets given by UBS, CLSA etc.useful? I dont think so !

 UBS Securities India has revised its Nifty target for the end of this year to 8,600 from 9,200 earlier, citing the effects of a poor monsoon on inflation and growth.
Last week, CLSA cut its year-end Sensex target by 3% to 28,500, owing to a delayed growth pickup.
That said, there is not much optimism in the rest of the world's economic outlook as well.