JPMorgan’s top stock picks for September

JPMorgan Updates Its Analyst Focus List

As the new month kicks off, JPMorgan has included PTC Therapeutics in its list of preferred stocks. Each month, the bank updates its analyst focus list, highlighting top picks from its analysts that cater to various strategies such as growth, income, value, and short-term investments. This shift follows a solid performance by PTC in August, traditionally a weaker month for major benchmarks. There’s a sense of optimism surrounding September, fueled by expectations that the Federal Reserve may start reducing interest rates in its upcoming meeting. According to the CME FedWatch tool, the market suggests a nearly 90% chance of this happening.

Over the last four weeks, JPMorgan has also added ACV Auctions, Cellebrite, McCormick, and Armstrong World Industries to its focus list, while removing Roybant, Belling Brand, Edgewise Therapeutics, and Carlisle.

PTC Therapeutics, a biopharma stock, has seen a remarkable increase of 16% this year. JPMorgan’s price target of $68 is about 38% above the stock’s recent closing price. In May, Bank of America upgraded PTC’s outlook from neutral, noting the launch of its program targeting phenylketonuria (PKU), a rare metabolic disorder. This initiative could potentially generate around $788 million in risk-adjusted peak sales, according to analyst Tazeen Ahmad. In line with the upgrade, Bank of America raised its price target for PTC from $55 to $68 per share.

Armstrong World Industries, a manufacturing stock, is another name on JPMorgan’s list. It has enjoyed a 37% increase in stock value in 2025, with further potential to reach the bank’s $210 price target. JPMorgan initiated coverage of Armstrong in June with an overweight rating. Analyst Tomohiko Sano praised the company for its combination of operational stability and built-in innovation, citing technologies like Templok for thermal ceiling solutions and AI-driven design assistance through ProjectWorks. Sano noted that Armstrong stands out for its solid margins even amid market volatility, along with the potential for margin improvements and multiple expansions.