RE: Just a thoughtThe former target was $1.25, not $1.40.
And yes, even if the target had been $1.40, it would only have been a coincidence. And NO, investment banking and equity research do NOT communicate about such things. There are specific firewalls in place against such discussion. Offenders can lose their jobs and CFA designations - quite a risk of personal loss for very little chance for material personal gain.
People have to understand how sprawling the big investment banks have become. Just because the prop trading desk at GS takes a position doesn't mean their equity research division will issue a buy rating on it. The two desks are separated. In general, other than in cases of rogue traders, they don't collude.