Goldman Sachs on Cummins (CMI): Strong Execution In What Was Supposed To Be Transition Year
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Price: $116.94 -0.48%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CMI Now!
Goldman Sachs reiterates a 'Buy' on Cummins (NYSE: CMI) price target raised to $112.00.
Analyst, Jerry Revich, said, "We reiterate our rating on CMI as strong 2Q cost control showcased Cummins' strong execution and new product sales opportunities in a challenging transition period for global truck and power generation markets. We remain buyers of the stock where we see a compelling new emissions control product cycle in Asia and Europe, market share opportunities in the US, a leading franchise with a strong execution track record in uneven cycles, and an attractive cyclical entry point."
FY12 EPS estimate raised from $8.69 to $9.61, FY13 from $9.72 to $10.65 and FY14 from $11.26 to $12.40.
For an analyst ratings summary and ratings history on Cummins click here. For more ratings news on Cummins click here.
Shares of Cummins closed at $95.90 yesterday, with a 52 week range of $79.53-$129.51.
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Analyst, Jerry Revich, said, "We reiterate our rating on CMI as strong 2Q cost control showcased Cummins' strong execution and new product sales opportunities in a challenging transition period for global truck and power generation markets. We remain buyers of the stock where we see a compelling new emissions control product cycle in Asia and Europe, market share opportunities in the US, a leading franchise with a strong execution track record in uneven cycles, and an attractive cyclical entry point."
FY12 EPS estimate raised from $8.69 to $9.61, FY13 from $9.72 to $10.65 and FY14 from $11.26 to $12.40.
For an analyst ratings summary and ratings history on Cummins click here. For more ratings news on Cummins click here.
Shares of Cummins closed at $95.90 yesterday, with a 52 week range of $79.53-$129.51.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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