Credit Suisse analyst Jamie Cook lowered his price target for Cummins to $205 from $214, while keeping an Outperform rating on the shares. The analyst notes that Cummins beat Q4 EPS on a better topline and provided a 2020 implied EPS outlook of about $12.00, assuming no share repurchase, which he views as good enough relative to the street expectations while setting the bar appropriately low. Cook believes the "considerably weak" start to Q1 EPS, reflecting production cuts from customers, potential risk from the coronavirus, and restructuring savings not hitting EPS until the second quarter is weighing on the name, implying EPS is back-end loaded. Nonetheless, he thinks these concerns are short term. He has an Outperform rating on the shares.