Robert Baird & Co. reported on Wednesday that they have
initiated coverage of diesel engine manufacturer, Cummins Inc.(
The firm announced they have begun coverage of CMI, giving the
coming an "Outperform" rating, and a price target of $119. This
price target suggests an 18% increase from the stock's current
price of $97.61.
Analysts expect truck orders to increase in 2013, which will
result in growth within the company.
Cummins shares were mostly flat during premarket trading
Wednesday. The stock is up 10.55% YTD.
The Bottom Line
Shares of Cummins Inc. ( CMI ) have a 2.06%
dividend yield, based on last night's closing stock price of
$97.31. The stock has technical support in the $90-$92 price area.
If the shares can firm up, we see overhead resistance around the
$102-$103 price levels.
Cummins Inc.( CMI )is not recommended at
this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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