Goldman Sachs Upgrades CNH Industrial to Buy, Shares Hit 3-Month High
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Rating Upgrade: Goldman Sachs analyst Daniela Costa upgraded CNH Industrial's rating from Neutral to Buy, indicating that industry conditions in agricultural and construction equipment may be stabilizing, which boosts investor confidence.
- Stock Price Surge: This upgrade led to a 2.7% increase in CNH shares during the first half hour of trading in New York, reflecting optimistic market expectations for the company's future performance.
- Improving Market Demand: Costa noted that improving trends in demand and inventory suggest that the downturn in agricultural equipment markets may be easing, supporting a more constructive outlook for the company's earnings.
- Brand Diversity: CNH Industrial boasts several well-known brands, including Case IH, New Holland, Steyr, and Iveco, enhancing its competitiveness and product diversity in the market.
Analyst Views on CNH
Wall Street analysts forecast CNH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNH is 12.83 USD with a low forecast of 10.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
9 Buy
5 Hold
1 Sell
Moderate Buy
Current: 10.450
Low
10.00
Averages
12.83
High
16.00
Current: 10.450
Low
10.00
Averages
12.83
High
16.00
About CNH
CNH Industrial N.V. is an equipment and services company. The Company is engaged in the design, production, marketing, sale, and financing of agricultural and construction equipment. It operates through three segments: Agriculture, Construction and Financial Services. Its Agriculture segment designs, manufactures, and distributes a full line of farm machinery and implements, including two-wheel and four-wheel drive tractors, crawler tractors, combines, grape and sugar cane harvesters, hay and forage equipment, planting and seeding equipment, material handling equipment, and others. Its Construction segment designs, manufactures, and distributes a full line of construction equipment, including excavators, crawler dozers, graders, wheel loaders, backhoe loaders, skid steer loaders, and compact track loaders. Its Financial Services segment offers retail note and lease financing to end-use customers for the purchase of new and used agricultural and construction equipment and components.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
