Cummins downgraded to Buy from Conviction Buy at Goldman Goldman removed Cummins from the Conviction Buy List and maintains its Buy rating based on a mixed end market outlook outside the U.S. and recent shares gains. Price target is $175.
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.