Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
TD Cowen analyst Gautam Khanna cut price targets across five US defense names in a single sweep on Friday, the most sweeping sector action of the day.
L3Harris Technologies took the sharpest hit. Khanna sliced its target from $370 to $280, a 24% reduction, while keeping a Buy rating. Howmet Aerospace lost $40 from its target, falling to $280. RTX Corporation dropped to $225 from $240. Lockheed Martin and Northrop Grumman each saw $30 cuts, to $570 and $540 respectively. Huntington Ingalls Industries was trimmed to $340.
The revisions come as Japan's numerically controlled machine tool orders surged 63% year-on-year in August, according to ORTEX alt data, a signal of rising industrial demand that contrasts with the caution now priced into US defense supply chains.
Away from defense, UBS raised its target on Biogen to $270 from $240, keeping a Buy, and lifted Amgen to $470 from $430. Both moves reflect growing confidence in large-cap biotech pipelines.
UnitedHealth Group drew a target cut to $402 from $430 at TD Cowen, with the Hold rating unchanged, adding to the stock's recent pressure.
GLJ Research initiated Vertiv Holdings at Sell with a $188 target, a lone bearish call on a data-centre infrastructure name that has attracted strong buy-side interest this year.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
