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Fly News Breaks for February 7, 2019
CMI
Feb 7, 2019 | 07:40 EDT
Oppenheimer analyst Noah Kaye downgraded Cummins to Perform from Outperform and removed his previous price target of $164 after the shares appreciated 11% year to date to within his price target range. Entering the year, the analyst noted positive internal catalysts as upside to consensus margin expectations, but now that FY19 guidance incorporates his view, he sees fewer internal catalysts for improvement, coupled with a mixed macro picture.
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