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Fly News Breaks for May 11, 2018
CMI
May 11, 2018 | 08:37 EDT
Argus analyst John Eade lowered his price target on Cummins to $175 to reflect the 12% decline in the stock price over the past quarter, but kept his Buy rating, saying the current sales and margin trends suggest that business is good. Eade notes that the stock price is trading near the bottom of its 52-week range on macro issues like the trade talks and micro concerns around the product-related charges, but believes the dividend yield is safe and valuation is "attractive".
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