B of A Securities Downgrades Cummins to Neutral, Announces $243 Price Target
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Ross Gilardi has downgraded Cummins (NYSE:CMI) from Buy to Neutral and set a price target of $243. This change reflects a revised outlook on the stock by the analyst.
December 15, 2023 | 12:57 pm
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NEUTRAL IMPACT
Cummins has been downgraded from Buy to Neutral by B of A Securities, with a new price target of $243, indicating a more cautious view on the stock's future performance.
Downgrades typically lead to a negative perception among investors, potentially causing short-term stock price decline. However, the price target of $243 may still represent an upside from the current trading price, which could mitigate the negative impact. The confidence level is high due to the direct mention and clear action by a reputable analyst firm.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100