Diesel engine maker Cummins on Monday saw its price target cut by analysts at JPMorgan.The firm maintained its “Neutral” rating on CMI but lowered its price target from $132 to $113. That new target suggests a smaller 28% upside to the stock’s Friday closing price of $88.16.
Cummins shares, which have fallen almost 20% year-to-date, fell $1.91, or -2.2%, in premarket trading Monday.
The Bottom LineShares of Cummins Inc. have a 1.81% dividend yield, based on Friday’s closing stock price of $88.16. The stock has technical support in the $83-84$ price area. If the shares can firm up, we see overhead resistance around the $95-$96 price levels.
Cummins shares, which have fallen almost 20% year-to-date, fell $1.91, or -2.2%, in premarket trading Monday.
The Bottom LineShares of Cummins Inc. have a 1.81% dividend yield, based on Friday’s closing stock price of $88.16. The stock has technical support in the $83-84$ price area. If the shares can firm up, we see overhead resistance around the $95-$96 price levels.
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