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UPDATE: Jefferies Downgrades Cummins to Hold on Valuation

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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

DateFirmActionFromTo
Jul 2016Standpoint ResearchDowngradesBuyHold
May 2016CitigroupMaintainsNeutral
May 2016Avondale PartnersMaintainsMarket Perform

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

 

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