Wells Fargo Downgrades Cummings Inc.

Analysts at Wells Fargo downgrades shares of Cummings Inc. CMI to Market Perform and decreased its price target to $145 to $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 Cummings Inc. recently traded at $135.50 down 1.7 percent Tuesday morning.