Goldman Sachs on Cummins (CMI): Strong Execution In What Was Supposed To Be Transition Year

August 1, 2012 10:35 AM EDT Send to a Friend
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Price: $144.35 -0.52%

Rating Summary:
    13 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 14 | New: 52
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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.

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