Cummins +2.6% as Argus lifts stock price target to $170


Cummins (CMI +2.6%) is reiterated with a Buy rating but with a raised $170 target price at Argus, which expects the diesel engine manufacturer to benefit from the macro trend of rising fuel costs and the regulatory trend of increasingly strict environmental rules, both in the U.S. and overseas (Briefing.com).

Argus also sees strong demand for CMI's products from truck and machinery manufacturers, driven in part by infrastructure development in emerging markets.

Yesterday, Americas Commercial Transportation Research reported better than expected May orders for the industry's Class 8 truck segment.

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Comments (6)
  • James Sands
    , contributor
    Comments (2687) | Send Message
     
    Nice to see, long on this one and looking for solid returns over the next decade.
    3 Jul 2014, 02:24 PM Reply Like
  • kevinconway
    , contributor
    Comments (2754) | Send Message
     
    Sold all my remaining WPRT a while back and put it all into CMI...that has worked well and a safer investment. WPRT on a run but driven by international energy issues more than the value of the company.
    3 Jul 2014, 07:19 PM Reply Like
  • jazz9650
    , contributor
    Comments (275) | Send Message
     
    Have held CMI for 8 years and have had 2 splits and tremendous stock appreciation.No intention of selling.Great growth story !!
    3 Jul 2014, 07:59 PM Reply Like
  • James Sands
    , contributor
    Comments (2687) | Send Message
     
    Good job jazz!
    3 Jul 2014, 09:32 PM Reply Like
  • walterrn
    , contributor
    Comments (315) | Send Message
     
    Wonder if another split is on the horizon? Been holding since before last split this is a great company with a lot of growth left in it
    4 Jul 2014, 01:01 AM Reply Like
  • catbird
    , contributor
    Comments (117) | Send Message
     
    Recent years CMI stockholders have been blessed with dividend increases every September. Let's hope for a repeat. Sweet!
    4 Jul 2014, 10:24 AM Reply Like
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