The colt 6940 and 6920 are both competition grade rifles that could be used for target shooting. I dont understand where you came up with that statement. They're also upgradable..
LOL!
Says the guy who apparently doesn't own one yet?
http://www.thehighroad.org/showthread.php?t=774439
Every AR-15 is 'upgradeable', but you are going to replace more than half of that rifle no matter what discipline you want to shoot.
I'm not a Colt hater. They make a reliable rifle. They also ignore a lot of very fundamental refinements that have been embraced by makers like Daniel Defense and BCM. Colt is nothing special in the current market. Their rifles are consistently selling for $300 dollars less than they did a couple years ago because BCM and DD were offering a far better rifle at the same price point.
For competition grade rifles, I don't think I have seen a Colt 6920 at a 3-gun match more than once or twice since 2006. And those were generally in the hands of novices. I don't shoot NRA High-Power but I guarantee you that you are not going to see a Colt 6920 on the 600 yard line.
Yes they are 'accurate enough', generally. And they are reliable. It is more the Indian than the arrow and a great shooter with a stock Colt can beat a schlub with a tricked out JP. But people who don't know any better keep selling this bill of goods that a Colt 6920 is the greatest AR-15 the world has ever seen, and that simply is not true. And a lot of people wind up with a rifle that really isn't great at anything, because they were told what to buy by people who have spent more time regurgitating BS they read online than actually shooting.
The carbine length gas system alone is a reason to choose something other than a Colt if you are really interested in shooting a rifle in an optimal configuration.
For guys who are interested in 'tactical' rifles I would lean towards BCM or DD.
For guys who are shooting recreationally. you can make a good case for anything as simple and inexpensive as an entry level DPMS all the way to something like a JP, Seekins Precision, or if performance at a given price point is you ultimate criteria and this is going to be a game gun and not for something serious like a patrol carbine, a home build is often the most cost effective way to achieve the ideal rifle.