Analysts Cut Targets on Lennox, Fortinet

Wells Fargo dominated today's analyst activity with calls across industrials, tech, and medtech.

LII took the sharpest hit. The consensus was downgraded and Wells Fargo's Stephen Tusa slashed his target to $355 from $424, keeping a Hold. The average analyst target now sits at $392, down from $437. That is a meaningful reset for the HVAC maker.

FTNT also absorbed a target cut. Piper Sandler's Rob Owens trimmed to $140 from $175, maintaining a Hold. Fortinet's average target stands at $140 against a consensus that skews heavily toward holds.

BSX saw multiple changes in one session. Wells Fargo's Larry Biegelsen cut to $45 from $48. The broader consensus shows 21 buys and 10 holds, with the average target dropping from $57 to $53.

Not all the news was bearish. Wells Fargo raised its target on MAS to $85 from $82, keeping a Buy rating on the home improvement products maker. EQIX saw a small consensus target upgrade to $1,233 from $1,231, a sign of steady if unspectacular support among data centre bulls.

CMG targets edged lower to $40.84 from $41.77. The fast-casual giant carries 22 buys but no sells in its current consensus.

OTIS draws attention on the index rebalance radar. Separately, ORTEX Index Rebalance Radar flags the Russell 2000 December review cut-off falls today, with 97 names in play and announcement due 13 November.