The firm said the risk and reward is no longer skewed positively due to more difficult comparable sales, a seasonally heavier promotional environment and higher cost inflation for 2017.
Separately, JPMorgan boosted its price target to $210 from $205 and maintained its "overweight" rating on Whirlpool stock earlier today.
The higher price target comes after the company reported better-than-expected results for the 2016 second quarter last week.
JPMorgan expects Whirlpool to outperform its peers over the next 12 months, the Fly noted.
Shares of Whirlpool closed up 1.46% to $190.35 on Monday.
The Benton Harbor, MI-based company is a manufacturer and marketer of home appliances.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, notable return on equity and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WHR