Wells Fargo Downgrades Cummins (CMI) to Market Perform

Wells Fargo downgraded Cummins (NYSE: CMI) from Outperform to Market Perform with a price target of $145-$148 (from $170-$173). Analyst Andrew Casey noted slower improvement than expected in emerging market demand and power generation. He also sees warranty accrual headwinds in Engines.

For an analyst ratings summary and ratings history on Cummins click here. For more ratings news on Cummins click here.

Shares of Cummins closed at $137.91 yesterday.

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