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Fly News Breaks for September 10, 2018
CMI
Sep 10, 2018 | 07:27 EDT
Stifel analyst Michael Baudendistel acknowledges that the truck equipment industry is late in the current cycle and lowered his price target on shares of Cummins to $156 from $172 to reflect a 10x multiple on his 2019 EPS estimate of $15.60. However, he sees Cummins as an "interesting" high-quality value name that is more diversified than many give it credit for and maintains a Buy rating on the shares.
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