Diesel engine maker Cummins Inc. (CMI) 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 Line
Shares of Cummins Inc. (CMI) have a 1.81% dividend yield, based on Friday’s closing stock price of $88.16. The stock has technical support in the $83-$85 price area. If the shares can firm up, we see overhead resistance around the $95-$96 price levels.
Cummins Inc. (CMI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.