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Fly News Breaks for October 6, 2015
CMI
Oct 6, 2015 | 07:22 EDT
BMO Capital downgraded Cummins to Market Perform and reduced its price target to $110 from $140. Analyst Joel Tiss believes the North American class 8 truck market is at a cyclical peak. Tiss expects less than 10% volume declines in 2016 and much larger declines in 2017 that will put pressure on earnings of companies, such at Cummins, with high exposure to class 8 sales.
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