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Fly News Breaks for April 16, 2019
CMI
Apr 16, 2019 | 06:51 EDT
Citi analyst Timothy Thein upgraded Cummins to Buy from Neutral with an increased price target of $190. The analyst sees upside to 2019 estimates and thinks the company's out-year cash flows "stay higher for longer based on end market diversity and increasing contribution from the aftermarket." Further, continued improvement in China and emerging market sentiment should help to support a higher multiple for the stock, Thein tells investors in a research note.
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