Skyworks Solutions Inc (NASDAQ:SWKS) had its price objective lowered by Citigroup Inc. from $115.00 to $98.00 in a report published on Thursday
So, lets unpack this in english. After a 15% decline to start the year, they revise their original price target (which had 50% upside already) down about 15% to still have 50% upside from current prices.
Why, idk, maybe leaving it at about 70% upside was too much. I’ll still take 50% upside from here, and long term probably a lot more.
But I guess this is a bad thing? Or is it a good thing? Or is this the comedy run of court jesters? (Extra sarcasm here)
I think there should be a rule where all analyst price targets should also carry time frame targets. They clearly are just blanketing adjustments to their price targets based on the past week performance. Even in a sea of noise, this is the least valuable type of noise.
Analysts just annoy me, but you can’t argue with idiots, as they drag you to their level and beat you with experience. Ok, rant over