The BT (LSE:BT.A) share price is near the bottom of its five-year trading range. Over the last half-decade, the stock’s swung between 100p a share and 200p a share. So are we looking at a buying opportunity? When I’m looking to understand how much a stock should be worth, City analysts’ own targets can be a good place to start. The consensus of the 18 analysts covering BT shares suggests the stock’s vastly undervalued. There are currently 10 ‘buy’ ratings, four ‘outperform’, two ‘hold’, one ‘underperform’, and one ‘sell’ rating. Moreover, the average share price target for BT’s 182.4p. That’s 76.1% above the current share price. However, it’s worth recognising that analysts’ share price targets can be wrong, and because things move fast, it’s worthwhile discarding targets issued more than three months ago. It’s also worth highlighting that while the consensus is overwhelmingly positive, analysts’ targets vary hugely. There’s a 180% difference between the highest and lowest share price target for this FTSE 100 stock. BT’s forecast to earn 15.53p per share in 2024. In turn, this means the company’s trading around 6.7 times forward earnings. Looking further forward, earnings are expected to reach 15.85p in 2025 and 15.74p in...