[The response below can also be found in this thread]

"Since February" is a keyword here because it tells us that we're dealing with a present perfect time frame.

• Incorrect: Since February, analysts predicted...

• Correct: Since February, analysts have been predicting...

This leaves us with A or D.

The significant split between A/D is

• A: Analysts have been predicting that the target will be raised (in the future)

• D: Analysts have been predicting that the target be raised (in the future)

A is better. A prediction is being made in the present (present perfect actually); the action predicted should be expressed in the future.
A is correct.

Use the Drill Engine to practice similar questions in timed drills; select topic="verb Tense" and difficulty="600-700" when setting up the drill. A much more detailed discussion and video solution can also be seen at GMATPrep question 2045

Good luck,
-Patrick

Just had this question. Good test of the use of present perfect. Thanks for the explanation.