Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
JP Morgan cut price targets across at least seven industrial and consumer names in a single session, with GE Vernova seeing the sharpest reduction. The bank trimmed its GEV target to $1,150 from $1,330, a $180 drop, while keeping a Buy rating. The energy technology firm carries a market cap of $266 billion and short interest of just 3% of free float.
Two steelmakers took hits. JP Morgan's Bill Peterson cut his target on Steel Dynamics to $260 from $272, moving to Hold. He also lowered Nucor to $296 from $308, though kept a Buy. Japan domestic machine tool orders jumped 62% year-on-year in August, a signal of industrial demand that sits uneasily alongside these cautious calls on US metals names.
PepsiCo drew two separate target cuts. Citigroup's Filippo Falorni trimmed to $135 from $142. JP Morgan's Andrea Teixeira followed with a cut to $137 from $138. Both analysts kept Hold ratings. PEP's short interest remains low at 1.9% of free float.
Honeywell and Parker-Hannifin also saw JP Morgan targets edged lower, to $240 and $1,131 respectively. Both retained Buy ratings, suggesting the bank views these cuts as recalibrations rather than directional calls.
Fortive was the outlier. JP Morgan dropped its target to $56 from $64 and carries a Sell rating, the only outright bearish stance in the sweep.
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.
