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Citigroup Gets Bearish on W.W. Grainger, Cautious on Cummins (GWW, CMI)

By Dividend.com,  June 12, 2012, 09:41:44 AM EDT

Analysts at Citigroup on Tuesday offered some bearish commentary on Tuesday for facilities maintenance supplier W.W. Grainger, Inc. ( GWW ) and diesel engines maker Cummins Inc. ( CMI ).

The firm maintained its "Sell" rating on W.W Grainger and cut its price target from $199 to $180. That new target suggests zero upside to the stock's Monday closing price of $180.88.

Meanwhile, Citigroup also slashed its price target for Cummins from $142 to $120. The new target implies a 30% upside to the stock's Monday closing price of $92.48.

Both GWW and CMI shares were mostly flat in morning trading Tuesday.

The Bottom Line
Shares of W.W. Grainger ( GWW ) have a 1.77% dividend yield, based on last night's closing stock price of $180.88. The stock has technical support in the $170 price area. If the shares can firm up, we see overhead resistance around the $190-$196 price levels. Shares of Cummins Inc. ( CMI ) have a 1.73% dividend yield, based on last night's closing stock price of $92.48. The stock has technical support in the $85 price area. If the shares can firm up, we see overhead resistance around the $100-$101 price levels.

W.W. Grainger, Inc. ( GWW ) and Cummins Inc. ( CMI ) are both currently rated "Neutral" by Dividend.com

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CMI, GWW



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