You’re right to not trust this analyst’s PT. I’ve been in the investment business for 20 years. In 09 (near the bottom) they all lowered price targets. And at the top in 2000, they were almost uniformly bullish. He’s just trying to get the target closer to the current SP to lower the delta, and his exposure. Analysts have an uncanny knack for doing the exact wrong thing at the exact wrong time.

All of that said, I’d be fine with $1 right now (on the way to $10, that is)!