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 six US defence names on Friday. The sweep is the clearest single-broker signal of the week.
L3Harris Technologies took the sharpest hit. Its target dropped to $280 from $370, a 24% reduction, while the Buy rating was kept. RTX Corporation saw its target fall to $225 from $240. Northrop Grumman, Lockheed Martin and Howmet Aerospace all had targets lowered too. Howmet's fell to $280 from $320.
Japan's numerically controlled machine tool orders jumped 63% year-on-year in August, according to ORTEX Alt Data. That reading is relevant for aerospace supply chains, where Howmet is a key structural parts supplier.
Away from defence, UBS raised its target on Biogen to $270 from $240, keeping a Buy. The same analyst lifted Amgen to $470 from $430. Both upgrades point to renewed confidence in large-cap biotech after a difficult stretch.
GLJ Research initiated Vertiv Holdings at Sell. The data centre power infrastructure group has been a market favourite this year. The bear case sets a $188 target against a consensus that leans heavily Buy.
UnitedHealth also saw its target trimmed, to $402 from $430 at TD Cowen, which held its Hold rating.
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.
