Cummins Catches Positive Commentary from Two Analysts (CMI)


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Diesel engine maker Cummins Inc. ( CMI ) on Friday caught some positive commentary from analysts at two major Wall Street firms.

Credit Suisse said it now expects CMI shares to reach $147, suggesting a nearly 30% upside to the stock's Thursday closing price of $113.31. The firm also maintained its "Outperform" rating and boosted its earnings estimates, citing the company's own raised outlook.

Meanwhile, analysts at Jefferies & Co. raised their price target on CMI to $130, which implies a 15% upside. Jefferies also backed its "Buy" rating on the stock and boosted its earnings estimates, citing the company's recent earnings report.

Cummins shares rose $1.74, or +1.5%, in premarket trading Friday.

The Bottom Line
Shares of Cummins Inc. ( CMI ) have a 1.41% dividend yield, based on last night's closing stock price of $113.31. The stock has technical support in the $105-$110 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $120 a share.

Cummins Inc. ( CMI ) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

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 Nasdaq, Inc.

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This article appears in: Investing , Stocks

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