B of A Securities Downgrades Cummins to Underperform, Lowers Price Target to $225
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Ross Gilardi has downgraded Cummins (NYSE:CMI) from Neutral to Underperform and reduced the price target from $243 to $225.
January 19, 2024 | 12:54 pm
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NEGATIVE IMPACT
Cummins has been downgraded by B of A Securities from Neutral to Underperform, with a price target reduction from $243 to $225.
Downgrades by major analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further supports the expectation of a downward movement in Cummins' stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100