UPDATE: Wells Fargo Downgrades Cummins Inc.
Analysts at Wells Fargo downgrades shares of Cummins Inc. (NYSE: CMI) to Market Perform and decreased its price target to $145 from $148 Tuesday.
Analysts feel the company will demonstrate slower growth potential than previously expected, as demand trends did not unfold as anticipated.
Casey stated, “We now expect more modest improvement in emerging markets and power generation demand.”
Shares of Cummins Inc. recently traded at $135.72, down 1.6 percent.
Latest Ratings for CMI
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 2022 | Credit Suisse | Maintains | Outperform | |
| Jan 2022 | Morgan Stanley | Maintains | Equal-Weight | |
| Dec 2021 | Deutsche Bank | Maintains | Hold |
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Posted-In: Andrew Casey Wells Fargo SecuritiesAnalyst Color Downgrades Price Target Analyst Ratings
