JP Morgan Downgrades Cummins to Underweight, Lowers Price Target to $255
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Ann Duignan has downgraded Cummins (NYSE:CMI) from Neutral to Underweight and lowered the price target from $270 to $255.
October 16, 2023 | 2:33 pm
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Cummins has been downgraded by JP Morgan from Neutral to Underweight, with a lowered price target of $255.
The downgrade from JP Morgan is a negative signal for Cummins. The lowered price target suggests that the analyst believes the stock is overvalued at current levels, which could lead to selling pressure and a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100