Market Overview

UPDATE: Jefferies Downgrades Cummins to Hold on Valuation

Related CMI
Top 4 NYSE Stocks In The Diversified Machinery Industry With The Highest EPS
Stocks Lower As Earnings Season Takes Back Seat To Geopolitical Uncertainties
Good Time to Buy Micron Technology, Cummins? (Fox Business)

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.

Posted-In: JefferiesAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CMI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters