RE:RE:RBC downgradeAnalysts have no idea how to value a business. They make every mistake in the book, including letting the market influence their valuations. He is essentially sayings "Because the whole market went down, volitilty is up, and because I don't want to look like an idiot and I have no idea what I'm doing, I'll lower the price target." If analysts were good investors, they wouldn't be analysts.
He said nothing about a reduction in the earnings potential of the company. Nothing about interest rates changing valuations. Nothing about risks to future cash flows changing. In fact he said the opposite. It blows my mind. If analysts were engineers, there would be a lot more dead people in the world.