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.
Wells says Daimler decision to make engines negative for Cummins Wells Fargo says Daimler's (DDAIF) announced intention to begin producing medium truck engines for its North American applications beginning in early 2016 is a negative for Cummins (CMI). Wells believes Daimler's decision is a threat to Cummins' supply relationship with Daimler's North American truck business. The firm estimates Cummins realized 45K engines and after-treatment systems to Daimler's North American Class 6-7 truck business over the twelve months ending August 2014. It has a Market Perform rating on the stock.