CNH Industrial price target lowered to $10.50 from $11 at BofA

BofA lowered the firm’s price target on CNH Industrial (CNH) to $10.50 from $11 and keeps a Neutral rating on the shares as part of the firm’s machinery, engineering and construction and waste 2026 outlook. Most of the analyst’s coverage saw a multiple re-rating to the “recovery valuation” phase as demand bottomed out and EPS troughed, but the next leg of outperformance requires a baton pass from multiple to EPS growth and “not everyone will participate,” the analyst tells investors.