Westport takeover by CMI highly unlikely, says JPMorgan JPMorgan says shares of Westport Innovations (WPRT) rallied Friday on a report that Cummins (CMI) is looking to acquire the company at $42 per share. The firm views a potential deal as highly unlikely and says the $42 per share price makes little sense. JPMorgan keeps a Neutral rating on shares of Westport.
News For WPRT;CMI From The Last 14 Days
Check below for free stories on WPRT;CMI the last two weeks.
Cummins downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Cummins to Market Perform on concerns the company will struggle to meet 2015 consensus expectations due to emerging market demand weakness, slower power generation improvement and warranty accrual headwinds in Engines. Wells lowered its price target range for shares to $145-$148 from $170-$173.