Wells Fargo analyst Andrew Casey raised his price target for Cummins to $180 from $165, saying demand trends appear to become progressively weaker with declining demand spreading to more markets. These downturns are faster and deeper than prior guidance but not unexpected, Casey tells investors in a research note, adding that Cummins has taken steps to reduce costs in the face of end market downturns and announced it will be pursuing early retirement initiatives in North America. Casey, who maintains a Market Perform rating on the shares, expects most of the end market weakness to persist into 2020 with further declines in some truck markets during 2021.