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Fly News Breaks for February 6, 2020
CMI
Feb 6, 2020 | 07:01 EDT
UBS analyst Steven Fisher upgraded Cummins to Neutral from Sell with a price target of $167, up from $162, after its Q4 earnings beat and FY20 guidance. The analyst notes that with a 7% year-to-date decline in the stock price, its risk/reward is now "more closely balanced. Fisher adds that the forecast for FY20 reflects a sharp decline in the North American truck market, but the outlook was "reasonable" in other segments and overall "better than anticipated".
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