Barclays Maintains an 'Overweight' on Cummins (CMI); Outlook Solid Over the Longer Term
Get Alerts CMI Hot Sheet
Price: $292.70 +0.79%
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Cummins (NYSE: CMI) price target of $127.00.
Barclays analyst says, "We think CMI is well positioned to grow earnings over the longer term in a choppy global economic environment. We are buyers of CMI stock after its recent pullback (stock down 13% from its recent peak on 11/4/11 vs. the S&P down 5%) given still positive revenue/earnings growth expected in most of the company's primary end markets in 2012 and beyond."
"CMI is focused on a number of longer term initiatives that we think investors should be excited about. CMI's focus on making its supply chain more efficient could pay dividends (in the form of better margins) as early as 2012, and we think CMI's recently announced joint venture with LiuGong could provide significant longer term growth as CMI pursues the very large Chinese engine market."
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 $89.58 yesterday.
Barclays analyst says, "We think CMI is well positioned to grow earnings over the longer term in a choppy global economic environment. We are buyers of CMI stock after its recent pullback (stock down 13% from its recent peak on 11/4/11 vs. the S&P down 5%) given still positive revenue/earnings growth expected in most of the company's primary end markets in 2012 and beyond."
"CMI is focused on a number of longer term initiatives that we think investors should be excited about. CMI's focus on making its supply chain more efficient could pay dividends (in the form of better margins) as early as 2012, and we think CMI's recently announced joint venture with LiuGong could provide significant longer term growth as CMI pursues the very large Chinese engine market."
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 $89.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla touts acceleration of new models, but Q1 results fall short of estimates
- IDEX Corp. (IEX) Tops Q1 EPS by 13c ; Offers Guidance
- Enova International (ENVA) Tops Q1 EPS by 19c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, Dividend, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!