UBS Cuts Estimates and PT on Cummins (CMI); Still One of the Best Long-Term Growth Names
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Price: $631.26 -0.06%
Rating Summary:
15 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Cummins (NYSE: CMI) price target of $110.00 (from $130.00).
Analyst, Henry Kirn, said, "While we see the current demand pullback as more mid-cycle slowdown than end of the cycle, the lower multiple reflects our view that visibility to Cummins’ demand outlook is now murkier. While we are lowering our estimates and price target, we continue to see CMI as one of the best L/T growth names in our coverage given rising global emissions standards, emerging market OEM entry into global markets, and exposure to an aging US truck fleet, which continues to need replacement."
FY12 EPS estimate cut from $10.75 to $9.25, FY13 from $11.90 to $10.50, and FY14 from $12.70 to $11.85.
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 $86.56 yesterday.
Analyst, Henry Kirn, said, "While we see the current demand pullback as more mid-cycle slowdown than end of the cycle, the lower multiple reflects our view that visibility to Cummins’ demand outlook is now murkier. While we are lowering our estimates and price target, we continue to see CMI as one of the best L/T growth names in our coverage given rising global emissions standards, emerging market OEM entry into global markets, and exposure to an aging US truck fleet, which continues to need replacement."
FY12 EPS estimate cut from $10.75 to $9.25, FY13 from $11.90 to $10.50, and FY14 from $12.70 to $11.85.
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 $86.56 yesterday.
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