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Stunning Target Price Changes

After more than 5 months at looking at analyst coverage news, this is the first time that I have seen so many target price reductions. Usually the majority of the coverage updates that I saw were upgrades and price raises. Is this good news?? Probably only to a contrarian. I’m afraid and I might look at reducing my exposure slowly. One of the advantages I have when I’m using a discount brokerage is that it only costs me about $4.95 per trade.

Based on 84 stock trading days this year, the average percentage of target price reductions was less than 10% which means 1 in 10 stocks had an analyst lowering the price target. Today, the percentage was almost 40%.

Here is the list of stocks that are affected:

Ticker / Company Name/ Target Price
NYX NYSE Euronext $34.00
TROW T. Rowe Price $60.00
LM Legg Mason $31.00
JNS Janus Capital $12.00
IVZ Invesco $24.00
FII Fed Investors $25.00
CNS Cohen & Steers $25.00
BLK BlackRock $185.00
BEN Franklin Resources $115.00
ART Artio Global Investors $22.00
MS Morgan Stanley $36.00
GS Goldman Sachs $205.00
TLB Talbots $18.00
AXP American Express $49.00
STX Seagate Tech $20.00
ATPG ATP Oil & Gas $10.00

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