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Fly News Breaks for April 6, 2016
CMI
Apr 6, 2016 | 10:20 EDT
As previously reported, Buckingham downgraded Cummins to Neutral from Buy and lowered its price target to $95 from $100. The firm's analyst believes Cummins' end markets are likely be pressured over the next two years and the company sill likely lose a couple hundred basis points of share in the North American truck markets. Buckingham believes Cummins lacks a catalyst for earnings improvement and cost cutting and buybacks are not enough to drive valuation higher.
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