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Fly News Breaks for December 16, 2019
CMI
Dec 16, 2019 | 06:14 EDT
UBS analyst Steven Fisher raised his price target on Cummins to $162 to reflect the approval of U.S.-China phase one trade deal, saying the sentiment should improve and create some upside risk for the stock. The analyst still keeps his Sells rating however, noting that the market fundamentals for the company are still "weakening", with 2020 earnings facing a sharp decline and 2021 recovery seen as "less robust." Fisher adds that longer term structural changes will require continued investment.
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