Goldman Sachs analyst Daniela Costa downgraded CNH Industrial to Neutral from Buy with a price target of $10.50, down from $12. Following the stock's outperformance in 2026, Goldman believes CNH is fairly valued. The market is contending with "persistently low" North American agricultural demand amid macro uncertainty and higher fertilizer prices, the analyst tells investors in a research note. In addition, Goldman says CNH's Q1 results missed the consensus EBIT by over 50% yet the stock price has increased 8% since.
