Goldman Sachs Removes Cummins (CMI) from CL-Buy List

Goldman Sachs downgraded Cummins (NYSE: CMI) from Conviction Buy to Buy with a price target of $175.00 (unchanged).

Analyst Jerry Revich said, "Our Conviction List Buy had been predicated on a $2 bn new product cycle and structurally higher returns as a result. While share gains in China truck and new content in Europe truck and global off-highway markets are yet to develop, share gains in high margin US truck and emissions components ($1.2 bn) are now well understood, and we see a mixed end market outlook outside of US truck and power generation markets."

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 $155.96 yesterday.

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