Robert Baird Initiates Coverage of Cummins (CMI)

Robert Baird & Co. reported on Wednesday that they have initiated coverage of diesel engine manufacturer, Cummins Inc.(CMI).

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 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here