Lazard's Ridiculous Target Call Gets a Pass

MarketWatch managed to mention it in this quick summary, even if it did not take the time to really point up its ridiculousness.

And what would we learn from really delving into the silliness of all this? Well, for one: The two buck quasi-trim in price target on Target puts to rest any of the more incendiary language used by both the analysts and their appendages, the journalists.

Moreover, the business media lost a perfect opportunity to instruct the savvy investor on how the Wall Street ratings game can work. In many cases -- like this -- it's perfectly calibrated.

See how the analyst cut numbers so slightly that you hardly notice? The price target trim was truly a joke and even the fourth quarter was just cut back by 5 cents, to $1.25. If Target recovers quickly, and the Lazard alarmist, err analyst, says it seems to have had a better recent few days -- he can claim to be right. "I only cut my price target on Target to $65. That's almost like keeping it the same. I knew."

And if Target reels? If the "too little too late" turns into a false start of a recovery?

Well, that's where the incendiary language that ran completely counter to the minuscule numbers tweak comes in. Then he can say "I told you it would be the first casualty! I knew."

That the business media plays along without fighting back makes it worse and confuses a lot of investors. Now you know why I look so battered and sad. Beware and be aware.