Fly News Breaks for January 14, 2020
Jan 14, 2020 | 06:30 EDT
Wells Fargo analyst Andrew Casey upgraded Cummins to Overweight from Equal Weight with a price target of $205, up from $180. In a research note to investors, Casey says he is upgrading the stock even though he still thinks sell-side consensus may be too high. He expects valuation multiple expansion will more than offset weak market conditions and notes that short-term freight fundamentals remain weak. The analyst lowered his 2020 Class 8 industry volume forecast to 205,000 from 226,000 and raised his 2021 view to 190,000 from 170,000.
News For CMI From the Last 2 Days
Oct 27, 2020 | 07:33 EDT
Reports Q3 revenue $5.1B, consensus $4.46B."Cummins successfully translated increased sales into strong profits and produced record operating cash flow during the third quarter," said Chairman and CEO Tom Linebarger. "I want to thank our employees all over the globe once again for their dedication to our company and to our customers. Over the last six months we have faced both the most severe decline in quarterly sales in our history as well as the largest sequential increase. We continue to work safely and effectively through an incredibly challenging period, meeting our commitments to customers who provide products critical to the functioning of the global economy."
Oct 26, 2020 | 12:48 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Pfizer (PFE), consensus 71c... Merck (MRK), consensus $1.43... Eli Lilly (LLY), consensus $1.71... 3M (MMM), consensus $2.26... Raytheon Technologies (RTX), consensus 50c... Caterpillar (CAT), consensus $1.12... Sherwin-Williams (SHW), consensus $7.75... Centene (CNC), consensus 96c... Cummins (CMI), consensus $2.35... Stanley Black & Decker (SWK), consensus $2.68... Corning (GLW), consensus 36c... Restaurant Brands (QSR), consensus 56c... TransUnion (TRU), consensus 75c... Omnicom Group (OMC), consensus $1.06... Sensata Technologies (ST), consensus 54c... Invesco (IVZ), consensus 47c... Harley-Davidson (HOG), consensus 28c... JetBlue (JBLU), consensus ($2)... Crocs (CROX), consensus 69c.