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Fly News Breaks for October 11, 2016
CMI
Oct 11, 2016 | 06:56 EDT
Goldman analyst Jerry Revich upgraded CMI to Conviction Buy from Neutral saying he expects structurally higher margins in this cycle. The analyst said key end markets are bottoming, margins are well above prior cycle trough, and sees further upside to margin expectations driven by the Power Systems restructuring. Revich raised Cummins' price target to $162 from $134 based on mid-cycle valuation and the catalyst of new electronic logging standards that suggest potential US and international truck demand should begin to normalize.
News For CMI From the Last 2 Days
