UPDATE: Jefferies Downgrades Cummins to Hold on Valuation
Jefferies downgraded Cummins Inc. (NYSE: CMI) from Buy to Hold and maintained a $105.00 price target.
Jefferies said, "CMI shares are up 30% from Oct lows and are just 10% below all time highs. The shares are trading towards the upper end of the historical ranges based on 2013 Consensus, which already calls for a healthy re-acceleration of growth from 2H12 levels. Longer term, we view CMI as a core holding."
Cummins closed at $112.44 on Thursday.
Latest Ratings for CMI
|Mar 2015||Macquarie||Initiates Coverage on||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.