I wonder how good the analyst earnings forecasts are?

They might be pretty good at doing the financial forecast but useless at assessing the market sentiment.

Like they could be spot on EPS and their target price is based on a sensible logical assessment ....but the market goes gangbusters and share prices go up to ridiculous levels ....and their consensus targets are seen as pretty useless.

Maybe you are just showing how over valued the NZX is at the moment.