Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
TD Cowen swept through the life sciences sector with a string of target price upgrades. Thermo Fisher Scientific got the biggest absolute lift, with its target raised to $760 from $675. Revvity saw the most dramatic percentage jump. Its target went from $130 to $175, a 35% increase, with a Buy rating maintained. Waters Corporation also received a boost, with its target raised to $515 from $475. Illumina moved to $270 from $210, also at Hold.
The cluster of life sciences upgrades from a single house on the same day points to a broader sector re-rating rather than individual stock calls.
On the other side, Morgan Stanley trimmed its target on AppLovin to $400 from $450. The Buy rating stayed, but the $50 cut stands out for a stock that has been a market darling. Morgan Stanley also trimmed to $1,468 from $1,479, a minor adjustment that leaves the Buy intact.
Barclays had mixed activity in REITs. Analyst Richard Hightower raised his target on Host Hotels to $25 from $24, while cutting Healthpeak Properties to $21 from $24. Both remain at Hold.
In software, the consensus target on Workday edged up to $208, reflecting slow but steady upward pressure on the stock.
General Motors (GM) reports on 20 October. German car registration data, which ORTEX Alt Data identifies as a 15-day leading indicator for GM revenue with a strong fit, is running 133% above the same quarter last year across all three months of the quarter.
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.
