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Fly News Breaks for February 13, 2020
CMI
Feb 13, 2020 | 05:03 EDT
Goldman Sachs analyst Jerry Revich upgraded Cummins to Buy from Neutral with a price target of $200, up from $192. The analyst believes U.S. truck leading indicators have inflected, consensus estimates have been de-risked following the company's 2020 guidance that embeds a 40% U.S. Truck production cut, and investor sentiment on vertical integration risk has turned "overly negative." The analyst sees 19% upside in the shares with the bottoming of leading truck indicators.
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