Cummins price target raised to $163 from $145 at Citigroup Citigroup raised its price target for shares of Cummins to $163 after meeting with management and keeps a Buy rating on the stock. Citi expects strong North American truck production and improving China truck sales mix to more than offset infrastructure spending in emerging markets and weak high HP engine markets. Citi keeps a Buy rating on Cummins.
Cummins upgraded at RW Baird Baird upgraded Cummins to Outperform from Neutral and raised its price target to $166 from $155. The firm said expectations have been reset and the company is poised to deliver steady earnings growth and shareholder returns. Baird believes the North American truck cycle can last longer and at higher levels than consensus expectations and thinks Cummins' stable cash flow will likely continue to enhance shareholder value.