I'm under the impression from the N3 wiki that being in a Targeted State replaces the -6 from a Speculative Attack with a +3 (rather than summing the two MODs to get -3). However, I don't actually see any support for this in the N4 rulebook (doing a pdf search for all instances of Targeted and Speculative Fire doesn't mention Targeted cancels out the penalty from Speculative Attack). Am I just missing it or has it changed?
Its changed. Targeted no longer removes the penalty for speculative fire. The net modifier of -3 in your example above is correct.
Where does it say that targeted gives +3 to a speculative attack? It just says that you apply range mods.
And the last bullet point only tells you to disregard negative mods. I actually had to read that twice, myself.
Thank you, i was just reading up on it and found it weird that neither Targeted and Speculative gave an exception to allow applying Targeted. No exception needed, in the end, it is only negative mods that are cancelled.