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 slashed price targets across the defence sector on Saturday. L3Harris Technologies took the sharpest hit. Its target fell to $280 from $370, a 24% reduction, while a Buy rating was kept. RTX Corporation saw its target cut to $225 from $240. Northrop Grumman, Lockheed Martin, and Howmet Aerospace all had targets trimmed too. Howmet dropped to $280 from $320.
The sweep suggests Khanna is marking down sector valuations rather than turning bearish on individual names. All Buy ratings stayed intact. Still, a 24% target cut on L3Harris is hard to ignore.
Biotech moved the other way. UBS analyst Michael Yee lifted his target on Biogen to $270 from $240 and pushed Amgen to $470 from $430. Both carry Buy ratings. The moves come as Indian life insurer premium income rose for a third consecutive month through September, per IRDAI data, a reminder that healthcare spending appetite remains firm globally.
GLJ Research initiated Vertiv Holdings with a Sell rating and a $188 target, bucking the broadly positive consensus on the data centre infrastructure play.
UnitedHealth Group had its target cut to $402 from $430 at TD Cowen, with a Hold maintained.
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.
