I usually don't put a lot of weight in their "price" as much as its a signal that they are anchoring. The financials I've seen with deals I've dug further on illustrate that the price is often idealistic for seller's dream exit, former glory, misunderstanding the market dynamics, lack of accounting comprehension, etc...

That said, be prepared to talk price in the second or third interaction. I have found it works well to go in slow regarding gathering information from sellers/brokers and try to understand context and motivations. The highest price is nice for sellers but not always the most important factor if the deal has been on market for a long time or has few interested (or qualified) buyers.

Summary: Don't buy the "price". Determine price based on all factors and establish a premium you can support with the business needs/constraints. They don't have to accept it and you can move on. Sometimes they come back to you months later, too.