U.S. analysts provided a mixed outlook on October 9th, favoring certain sectors while expressing caution in others. Software, cybersecurity, and digital infrastructure saw upgrades and increased price targets, while parts of the semiconductor sector faced downgrades. Financials were divided, with stronger targets for select brokers and exchanges but widespread cuts across regional banks, insurers, and mortgage-related businesses. Healthcare showed opportunities in pharmaceuticals and biotechnology, but managed care had sharply contrasting views.
Energy received selective support, while industrials, building materials, utilities, and consumer staples saw numerous target reductions. Overall, analysts favored specific growth opportunities while becoming more cautious on valuations elsewhere. Notable updates included JPMorgan Chase & Co. lowering its price target for 3M (MMM) to US$185.00 from US$205.00, while maintaining an Overweight rating. Guggenheim reiterated its Buy rating for AbbVie (ABBV) with a US$288.00 price target.
In the healthcare sector, UBS Group maintained its Buy rating for Amgen (AMGN) and raised its price target to US$470.00 from US$430.00. Biogen (BIIB) also saw its price target increased to US$270.00 from US$240.00. In the financial sector, Royal Bank Of Canada maintained its Outperform rating for American Express (AXP) but lowered its price target to US$400.00 from US$415.00. The semiconductor sector saw Barclays maintaining its Overweight rating for Aptiv (APTV) but lowering its price target to US$60.00 from US$65.00.
Archer Aviation (ACHR) was upgraded to Overweight from Equal Weight by Barclays, with a price target raised to US$8.00 from US$4.50. Astera Labs (ALAB) was downgraded to Hold from Buy by Citigroup. Bitdeer Technologies Group (BTDR) saw its price target raised to US$17.00 from US$15.00 by Barclays, who maintained an Overweight rating. Overall, the updates reflected a selective approach to growth opportunities amid broader market caution.