Cummins’ Price Target Lowered at JPMorgan (CMI)

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 DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here