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 a sweep of US industrial stocks on Friday. The moves hit energy equipment, steel, automation and aerospace names in one batch.
The biggest cut fell on GEV. JP Morgan trimmed its target to $1,150 from $1,330, a $180 drop while keeping a Buy rating. GEV carries just 3% short interest as a percentage of free float, meaning bears are not yet pressing the name hard despite the reduced outlook.
Steel names took coordinated hits. JP Morgan cut STLD to $260 from $272 and NUE to $296 from $308. Both analysts retain Buy on Nucor but Hold on Steel Dynamics. Japan domestic machine tool orders rose 62% year-on-year in August 2026, per ORTEX alt data, which points to global manufacturing demand holding firm even as US steel targets slip.
PEP drew two separate target cuts from Citi and JP Morgan on the same day, with both analysts at Hold. The consensus target slid to $135 to $137. That double-shot from two major banks on one session is notable for a defensive staples name.
HON and FTV also saw JP Morgan trim targets. Fortive's cut was the sharpest on a percentage basis, down to $56 from $64, with JP Morgan holding a Sell.
On the positive side, consensus targets ticked up for GM to $104.65 and FANG to $234.79, both on target price upgrades across the analyst pool.
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.
