they're just arbitrary numbers indicating how they feel about the business. for cs, they must be saying "either sell the company private or go bk" by reducing a target of $10 from 30. goldman feels like they can survive by stick to their number 20 and neutral rating. however, the stock is reacting violently to the downside on any bad news and only moderately to upside on good news indicating the street is continuing to dump the stock . clf should be consulting with its' board to manage a leveraged buyout.this would be best for the shareholders since they have obviously lost a lot of credibility with the street.
Credit Suisse dropped the price target from $30 to $10
Morgan Stanley(MS) dropped the price target from $36 to $14
Last Week: (3/19)
Goldman Sacks(GS) dropped the price target from $24 to $20 (also dropped to a Sell which they upgraded yesterday)
Bank of America dropped the price target from $30 to $25