xxx IB Initiated coverage on Econpile Berhad on 27th November 2018 with a TP of 35 cents, at that time Econpile was trading at 0.515 - 0.615. Subsequently, xxx IB has downgraded Econpile consistently with the following: 

A brief recap: 

1. TP 35 cents - 27th November 2018 
2. TP 35 cents - 13th February 2019 
3. TP 26 cents - 26th February 2019 
4. TP 26 cents - 27th February 2019 
5. TP 27 cents - 11th March 2019 
6. TP 22 cents - 15th March 2019 
7. TP 22 cents - 21st March 2019 
8. TP 22 cents - 28th May 2019 
9. TP 22 cents - 25thth June 2019 

Alas, Econpile has never ever fell below 30 cents, much less the targeted price of 22 cents. As of today Econpile has reached in 1 year high of 85 cents. If one were to follow xxx IB's recommendation, that person would have made a lot less money. Not losing money is one thing, but making a lot less money is really painful. 

Lesson of the day: Don't believe Price Target 100%, believe in the company's prospects, believe in the management's capability and integrity.