Cummins dividend raised more than expected by ISI Group ISI Group said Cummins' decision to bump its dividend to 78c was more than the firm's forecast for a raise to 70c. ISI still expects Cummins to end this year with net cash for the eighth time in 9 years despite the dividend increase and says the company has more firepower if they are able to use it. ISI has a Buy rating on the stock.
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.