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Sector Shifts: Bank of America Analyst Forecasts Challenging 2024 for Machinery, Downgrades Cummins and GFL, Upgrades PACCAR

BofA Securities' Michael Feniger adjusts ratings for machinery and energy companies, anticipating challenges in the machinery sector due to slow backlogs and moderating pricing. The analyst downgrades GFL Environmental and Cummins but upgrades PACCAR, reflecting a nuanced outlook amid expectations of a tightening cycle and global economic shifts.

CMI