JP Morgan Maintains Underweight on Cummins, Lowers Price Target to $245
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Tami Zakaria has maintained an Underweight rating on Cummins (NYSE:CMI) and reduced the price target from $255 to $245. This adjustment reflects a more cautious stance on the stock's valuation and future performance.
January 18, 2024 | 7:39 pm
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JP Morgan's analyst has reaffirmed an Underweight rating on Cummins and decreased the price target, suggesting a bearish outlook on the stock.
The reduction in price target by a prominent financial institution like JP Morgan typically indicates a negative sentiment towards the company's stock, which can lead to a decrease in investor confidence and a potential short-term decline in the stock price.
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