Jefferies lowered price target to $40 from $52.Before this happened, I have always been concerned that CNH mgmt might lower analyst expectations or sandbag performance in the near term in order to get the share price down for the merger. Thoughts?
I'm out, Jefferies had it right at $40. Too much currency risk with this stock IMO.
Yeah, I'm having difficulty comprehending why a lower euro doesn't serve to improve sales. Obviously I need to perform a deeper level of DD.
Apparently the downgrade was a macro call with little specific company data for support.