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CMI

Cummins

$128.17

-0.27 (-0.21%)

06:56
10/11/16
10/11
06:56
10/11/16
06:56

Cummins upgraded to Conviction Buy from Neutral at Goldman

Goldman analyst Jerry Revich upgraded CMI to Conviction Buy from Neutral saying he expects structurally higher margins in this cycle. The analyst said key end markets are bottoming, margins are well above prior cycle trough, and sees further upside to margin expectations driven by the Power Systems restructuring. Revich raised Cummins' price target to $162 from $134 based on mid-cycle valuation and the catalyst of new electronic logging standards that suggest potential US and international truck demand should begin to normalize.

CMI Cummins
$128.17

-0.27 (-0.21%)

09/06/16
DBAB
09/06/16
INITIATION
Target $111
DBAB
Sell
Cummins initiated with a Sell at Deutsche Bank
Target $111.
09/06/16
DBAB
09/06/16
INITIATION
DBAB
Deutsche Bank starts U.S. Machinery group with 'cautious view'
Deutsche Bank analysts Nicole DeBlase, Saree Boroditsky, and Kevin Marek initiated the U.S. Machinery group with a "cautious view." While the analysts see the natural resource markets as having bottomed, they also only expect "low-single digit industry organic growth through 2020." The team's top pick is Caterpillar (CAT), and they are also positive on Oshkosh Corp (OSK) and Wabtec (WAB), all of which are Buy rated, but are negative on CNH Industrial (CNHI) and Cummins (CMI), which are Sell rated.
09/07/16
09/07/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Navistar (NAV) initiated with a Hold at Deutsche Bank. 2. Barrick Gold (ABX) initiated with a Sell at Berenberg while the firm initiated Randgold (GOLD), Kinross Gold (KGC), and Goldcorp (GG) with a Hold. 3. 3. After the close on Tuesday, Deutsche Bank analysts Nicole DeBlase, Saree Boroditsky, and Kevin Marek initiated the U.S. Machinery group with a "cautious view." Oshkosh (OSK), Caterpillar (CAT), and Wabtec (WAB) were initiated with Buy ratings at Deutsche Bank, while the firm initiated Cummins (CMI) and CNH Industrial (CNHI) with Sell ratings. The firm also initiated Deere (DE), AGCO (AGCO), Terex (TEX), PACCAR (PCAR), WABCO (WBC), and United Rentals (URI) with Hold ratings. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
LYON
09/30/16
INITIATION
Target $150
LYON
Buy
Cummins initiated with a Buy at CLSA
CLSA analyst Kristine Kubacki initiated Cummins with a Buy and a $150 price target. The analyst Cummins is nearing deep trough levels in many of its end markets and expects a recovery in major North American and industrial end markets in 2018.

TODAY'S FREE FLY STORIES

CSCO

Cisco

$34.26

-0.06 (-0.17%)

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AQMS

Aqua Metals

$16.38

-0.33 (-1.97%)

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WSTC

West Corp.

$24.37

0.01 (0.04%)

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EFX

Equifax

$130.81

1.43 (1.11%)

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DLA

Delta Apparel

$18.03

0.37 (2.10%)

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LPCN

Lipocine

$4.01

0.15 (3.89%)

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HCKT

Hackett Group

$20.13

0.12 (0.60%)

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VRTU

Virtusa

$30.49

2.14 (7.55%)

04:55
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SRC

Spirit Realty

$11.07

0.08 (0.73%)

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TGT

Target

$66.91

0.4 (0.60%)

04:55
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ALXN

Alexion

$132.20

0.66 (0.50%)

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LOPE

Grand Canyon

$61.27

0.58 (0.96%)

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ANTM

Anthem

$164.91

1.08 (0.66%)

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AGU

Agrium

$98.96

-0.41 (-0.41%)

, AAL

American Airlines

$46.32

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AGU

Agrium

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AAL

American Airlines

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ABX

Barrick Gold

$18.91

-0.63 (-3.22%)

AEM

Agnico Eagle

$42.46

-2.76 (-6.10%)

ANTO

Use ANFGY

BLT

Blount

CCO

Clear Channel Outdoor

$4.75

0.1 (2.15%)

FCX

Freeport McMoRan

$13.27

0.02 (0.15%)

FNV

Franco-Nevada

$64.05

-1.84 (-2.79%)

GEM

Pepsi-Gemex ADR

$29.26

-0.13 (-0.44%)

GG

Goldcorp

$16.02

-0.55 (-3.32%)

HBM

Hudbay Minerals

$7.90

-0.1 (-1.25%)

IVN

trades under IVPAF

NUE

Nucor

$62.64

1.78 (2.92%)

PDL

Project Design Labs

POT

Potash

$17.83

-0.04 (-0.22%)

RIO

Rio Tinto

$41.83

0.14 (0.34%)

SLW

Silver Wheaton

$19.66

-1.49 (-7.04%)

STLD

Steel Dynamics

$36.70

1.11 (3.12%)

TECK

Teck Resources

$20.06

-0.66 (-3.19%)

NEM

Newmont Mining

$33.97

-2.11 (-5.85%)

MOS

Mosaic

$31.27

0.12 (0.39%)

AA

Alcoa

$34.78

0.3 (0.87%)

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WMAR

West Marine

$9.38

-0.57 (-5.73%)

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JPM

JPMorgan

$90.43

0.1 (0.11%)

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    Oct

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