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Fly News Breaks for October 20, 2015
NAV, PCAR, CMI
Oct 20, 2015 | 05:45 EDT
UBS analyst Steven Fisher downgraded Cummins (CMI) after his firm's quarterly truck survey indicated moderating strength in North American truck demand. A 10%-20% decline in Class 8 production is possible, making share outperformance less likely, Fisher tells investors in a research note. He cut his price target for shares to $111 from $150. The analyst also downgraded PACCAR (PCAR) this morning to Neutral and kept a Neutral rating on Navistar (NAV) with a reduced price target of $14.
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