Does make sense in certain ways but in the long term this stock still looks to be a great long term investment. I think that the analysts that project mid 70's to mid 80's in the coming year are still on target. You won't double your money here but for the patient long term investor, who is looking for a decent return, won't go wrong here. Roiled waters for probably a few weeks but many should look at this as a buying opportunity. Tomorrow should be an interesting day.
But they lowered their price target to 74 from 82. I can live with that. Actually would like to see it go lower the next few days to buy in at a better price. Not looking to make a killing-- just want to put food on the table.
Some people just took profits today, others probably panicked when they saw the sell-off. Look at Cummins (CMI) a week ago. Missed estimates, lowered guidance and the stock took a beating, but in just one week has recovered over 65% of the loss. No reason to jump ship on this one.