Does QE effect the price target calculations?
Not so far, but then we are not really done with QE yet. Instead we have seen a bit of rotation into other issues. Many stocks have neared or have hit their price target since the 2009 lows. Most of them look like they have topped with late-stage bases but with QE I don't rule out anything. The fact that many leading stocks look to have finished their run is a bearish situation in my opinion as we stare into a possible rally this week.

One point I did not stress before is that this process is used for institutional quality stocks only. CANSLIM methods don't work well with cheap and thinly traded stocks and stocks with questionionable earnings.