If you look at stock prices over any year, you will find a high and low stock price for the year. Instead of single benchmark PE ratio, we have a high and low PE ratio for each year. We can use these ratios to calculate a high and a low stock price for the next year. Suppose we have the following information on particular company:

$\backslash$table$[[,$Year $1,$Year $2,$Year $3,$Year $4],[$High price,$$62\mathrm{.}18,$$$67\mathrm{.}29,$$$74\mathrm{.}18,$$$78\mathrm{.}27$