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Fly News Breaks for April 17, 2017
CMI
Apr 17, 2017 | 08:20 EDT
As noted earlier, Wells Fargo upgraded Cummins to Outperform from Market Perform. The firm believes that the company's Q1 results could beat expectations, and that it could raise its guidance slightly above consensus levels. The firm says that the company's cost reductions and improvements in its end markets should enable its profit to beat expectations. Wells expects the company's 2017 revenue and EBIT margin to exceed the top ends of its current guidance ranges. Price target to $165-1$68 from $155-$158.
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