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Fly News Breaks for January 9, 2020
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.
News For CMI From the Last 2 Days
Apr 13, 2021 | 06:45 EDT
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on Cummins to $260 from $252 and keeps a Hold rating on the shares. The analyst expects earnings beats to continue this quarter for the multi-industry group, but she expects the beats to "look less extreme." Further, the Q1 results are backward-looking, and companies may opt to leave rest-of-year guidance unchanged, given growing risk of supply chain constraints and "price/cost margin pinch as the recovery marches on," Deblase tells investors in a research note.