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Fly News Breaks for March 2, 2018
CMI
Mar 2, 2018 | 07:35 EDT
Morgan Stanley analyst Courtney Yakavonis started coverage of truckmakers and suppliers, stating she sees limited upside to OEMs from EPS revisions and thinks potential electric vehicle disruption could pressure their multiples. Yakavonis, who thinks NAFTA Class 8 sales will peak in 2018 and is below consensus for 2019, started Cummins with an Equal Weight rating and $173 price target, stating that despite EV headline risk, the company has invested in battery technology and has balance sheet power to diversify.