Baird lowered the firm’s price target on CNH Industrial to $15 from $16 and keeps an Outperform rating on the shares after its Q2 results and guidance cut. Cyclical headwinds are amplifying, but the company’s ongoing performance on cost takeouts “really stood out”, providing a meaningful earnings buffer at a critical juncture, the analyst tells investors in a research note. CNH’s Construction segment also appears poised for a strategic review, which could unlock value and provide an additional catalyst medium term, the firm added.
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