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Fly News Breaks for February 13, 2020
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.
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.