Analysts Trim Targets After Q3 Earnings Beats

The latest round of analyst updates is skewed toward target price trims, even as several companies delivered strong quarterly results.

GE saw its consensus target cut to $378.90 from $382.81. ABT had its average target shaved to $118.52 from $118.64 after reporting solid but well-priced third-quarter numbers.

HON faces a similar reset. Analysts cut the average target to $253.48 from $255.09. The industrial conglomerate has lagged peers this year.

Not all moves were cuts. MRK picked up a target increase to $159.76 from $158.56 as analysts grow more comfortable with its drug pipeline. COIN also got a lift, with the consensus target edging to $213.55 from $212.31.

The busiest update belongs to BE. Bloom Energy saw multiple changes in quick succession. One analyst removed coverage entirely, while the consensus target landed at $284.77. The stock has drawn attention from energy traders watching the nuclear output data. ORTEX alt data shows ETR, a key nuclear operator, saw reactor output 10 standard deviations below its own history as of October 23, an unusual dip that may colour sentiment across clean-power names.

PG also drew multiple revisions. The consensus target jumped to $172.35 from $166.27. That is a meaningful upgrade in a stock analysts had been cooling on.

The broad pattern today: post-earnings trimming on industrials and healthcare, with energy and financials getting modest upgrades.