Cummins is a Top Idea for 2013 at RW Baird Baird recommends adding to positions in Cummins and called it a Top Idea in Global Commercial Vehicles. The firm raised its price target to $132 from $119 citing improving investor sentiment, potential for demand recovery, and a rebound in second half 2013 earnings. Shares are Outperform rated.
Cummins downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Cummins to Market Perform on concerns the company will struggle to meet 2015 consensus expectations due to emerging market demand weakness, slower power generation improvement and warranty accrual headwinds in Engines. Wells lowered its price target range for shares to $145-$148 from $170-$173.