Well there you go – even Brisbane broking house Morgans has its limits, and its high-profile client Blue Sky Alternative Investments just exceeded them.

During trading on Tuesday afternoon, Morgans analyst Scott Murdoch massacred its price target for Blue Sky by 63 per cent, from $14.85 to $5.55, warning "it would take time for the dust to settle" and his preference "to gain increased confidence in near-term earnings before taking [a] positive view." Wise. Finally.