Baird analyst Mircea Dobre lowered the firm’s price target on CNH Industrial (CNH) to $13 from $14 and keeps an Outperform rating on the shares. CNH is trying to destock the dealer channel while dealing with lower end user demand, which is “hard to do” and requires sizable and sustained production cuts, the analyst tells investors. While there is more work to be done, the firm sees “good long-term value for patient investors,” the analyst added.
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Read More on CNH:
- DA Davidson analysts hold an analyst/industry conference call
- CNH Industrial Faces Revenue Decline Amid Market Challenges
- CNH Industrial reports Q3 EPS 24c, consensus 27c
- CNH Industrial cuts FY24 adjusted EPS view to $1.05-$1.15 from $1.30-$1.40
- CNH Industrial enhances workplace safety with ergonomic technology
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