Cummins Price Target Raised at UBS and Jefferies (CMI)

On Thursday analysts at UBS and Jefferies & Co. boosted the price target on diesel engines maker Cummins Inc. (CMI) after its better-than-expected fourth-quarter earnings report and attractive guidance.

The analysts at UBS see shares of CMI reaching $135, which suggests a 12% upside to Wednesday’s closing price of $120.38.

Jefferies analysts maintain a “Hold” rating and see shares reaching $110, a 9% downside to Wednesday’s closing price.

Cummins shares were down $1.22, or -1.01%, during morning trading on Thursday. Over the past year the stock is about flat.

The Bottom Line
Shares of Cummins (CMI) have a dividend yield of 1.67% based on Thursday’s intraday trading price of $119.45 and the company’s annualized dividend payout of $2.00 per share.

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.

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