Analysts Trim Targets on Bloom Energy and Union Pacific

JP Morgan had a busy morning. The bank cut targets on four names in quick succession, with Bloom Energy taking the sharpest hit.

JP Morgan analyst Mark Strouse trimmed his Bloom Energy target to $292 from $314, a drop of $22. He kept his Buy rating. The stock remains well-covered, with 12 holds and 15 sells from the broader consensus.

Union Pacific also drew a lower target from JP Morgan's Brian Ossenbeck, down to $321 from $322. That is a slim cut. The bank kept its Hold rating. The consensus on the railroad is heavy with holds: six hold calls against just one buy.

Omnicom Group saw its JP Morgan target fall to $111 from $115. The Buy rating held. Omnicom is light on sell coverage, with just one sell among 12 tracked analysts.

On the positive side, Western Digital got a meaningful lift. JP Morgan raised its target to $650 from $600, keeping Buy. The move stands out given 21 analysts already have it at Hold.

Tractor Supply drew two upgrades. Piper Sandler's Peter Keith lifted his target to $35 from $33. The consensus also edged up, with the average target moving to $37.19 from $36.63.

Tesla's consensus target crept higher to $408.46 from $408.36. Taiwan's September export orders hit a record $114.2bn, their largest since 1984, pointing to continued semiconductor and electronics demand that feeds into EV supply chains.

Southwest Airlines saw its JP Morgan target trimmed to $58 from $59, despite the bank holding its Buy rating.