CNH Industrial stock price target cut to $11.50 from $13.00 at J.P. Morgan

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CNH raises guidance after net profit soared

CNH Industrial NV CNHI raised its outlook for the year on Friday after net income soared in the first quarter. Based on GAAP, net income attributable was $196 million in the quarter, up from $43 million, it said. Revenue rose 17% to $6.77 billion, it added. “As a result of the stronger-than-anticipated results in the first quarter of 2018 and positive developments in end-user demand, CNH Industrial is increasing its net sales and adjusted diluted EPS guidance for the full year 2018 to the upper-end of its range,” CNH Industrial said.

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