RBC Price Targets have been a joke! Look at the history! September10th 2015, RBC Capital Markets target price upped to $105.00 USD on CXRX
April 24th, 2016: RBC Capital downgrades, prior target price was already lowered to $81.00.
May 30th 2016: RBC restated an “outperform” rating and set a $73.00 price target on shares
Aug 12 2016: RBC Capital rates CXRX at Outperform wth a price target of $33 USD
September 4th, 2016: RBC Capital upgrades to $38.00 price target on the stock, up from their previous price target of $33.00.
Sept 16 2016 RBC Capital analyst Douglas Miehm downgraded again to a "Speculative Risk" and lowered his price target to $14.00 (from $25.00) USD.
Isn't anybody at RBC watching this? RBC had a good reputation but with absolute attrocities like this one, Doug might be better in another position? Maybe as a mortage broker or senior teller at a branch?
Seriously, I for one, will never, ever trust anything RBC ever says. This is too big of a gaff to ignore. How much money has RBC lost for its clients? Has RBC been added to the class action, because really, with these continual downgrades with "outperformed" the only thing RBC did was outperform for short sellers!
How many honest, hard working investors were played here because of someone they trusted in?
RBC and many other investors were fooled by these "adjusted EBITDA" numbers and higher than value billion dollar purchases.