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Fly News Breaks for January 9, 2020
CMI
Jan 9, 2020 | 05:51 EDT
Cowen analyst Matt Elkott initiated coverage of Cummins with a Market Perform rating and $173 price target. The company's diversification across markets limits the impact of a possible worse-than-consensus 36% Class 8 build drop in 2020, Elkott tells investors in a research note. However, he views Cummins shares as fairly valued at current levels.
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