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

|About: Cummins Inc. (CMI)|By:, SA News Editor

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.