JP Morgan Sweeps Targets Up and Down

JP Morgan dominated the analyst tape on Friday, issuing a wave of target price revisions across a dozen names in a single session.

The biggest upside call landed on COST. JP Morgan's Christopher Horvers lifted his target to $1,150 from $1,015, a 13% jump, while keeping his Buy rating. The retailer carries a short interest of just 1.7% of free float, suggesting little bear conviction against the stock.

FICO was the standout cut. Alexander Hess trimmed his Fair Isaac target to $800 from $900, a $100 reduction. The rating stays at Hold. Short interest on FICO stands at 11.5% of free float, the highest among the names JP Morgan touched today, with bears already positioned for weakness.

IFF drew upgrades from two separate banks. JP Morgan's Jeffrey Zekauskas raised his target to $95 from $92, while Citigroup's Patrick Cunningham pushed his to $105 from $100. Both carry Buy ratings. International Flavors has a short interest of 6% of free float.

Two other notable cuts rounded out the session. EXPE had its target cut to $315 from $330. QCOM saw its target fall to $200 from $215. Both remain at Hold.

On the positive side, CDW gained a target lift to $195 from $170. MCD moved to $270 from $250.