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CMI

Cummins

$141.55

-0.23 (-0.16%)

, PH

Parker-Hannifin

$142.95

4.02 (2.89%)

11:49
12/01/16
12/01
11:49
12/01/16
11:49

Cummins to look into sale of filtration business, Reuters reports

Cummins (CMI) is readying to look into the sale of its business that makes filters and coolants, potentially valuing the unit at over $1.5B, Reuters reports, citing people familiar with the matter. The move comes after Parker-Hannifin (PH) announced that it would acquire air filtration system maker Clarcor (CLC) for roughly $4.3B, the report notes. Cummins is working with an investment bank to help run an auction for its filtration unit in the next two months, the report says. Reference Link

CMI

Cummins

$141.55

-0.23 (-0.16%)

PH

Parker-Hannifin

$142.95

4.02 (2.89%)

CLC

Clarcor

$82.39

11.94 (16.95%)

  • 01

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  • 08

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  • 19

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  • 20

    Dec

CMI Cummins
$141.55

-0.23 (-0.16%)

11/07/16
11/07/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Time Warner (TWX) upgraded to Outperform from Neutral at Credit Suisse with analyst Omar Sheikh citing attractive valuation. 2. Waste Management (WM) upgraded to Overweight from Equal Weight at Barclays with analyst Jon Windham saying the recent pullback in shares provides a buying opportunity given the company's "strong" underlying fundamentals. 3. Parker-Hannifin (PH) upgraded to Buy from Hold at Evercore ISI and to Overweight from Equal Weight at Morgan Stanley. 4. Biogen (BIIB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Joshua Schimmer saying the company still has time to "get its act together to maximize the value of its SMA franchise, and stop being M&A disciplined/pipeline-undisciplined." 5. Cummins (CMI) upgraded to Buy from Hold at Evercore ISI with analyst David Raso citing lowered expectations, valuation, and accelerating inflation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/01/16
LYON
12/01/16
DOWNGRADE
LYON
Outperform
Cummins downgraded to Outperform from Buy at CLSA
12/01/16
12/01/16
DOWNGRADE
Target $150

Outperform
Cummins downgraded to Outperform on valuation at CLSA
As previously reported, CLSA downgraded Cummins to Outperform from Buy. Analyst Kristine Kubacki changed her rating citing valuation and maintained its $150 price target.
12/01/16
12/01/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cummins (CMI) downgraded to Outperform from Buy at CLSA with analyst Kristine Kubacki citing valuation. 2. Cerner (CERN) downgraded to Market Perform from Outperform at Leerink with analyst David Larsen saying he believes there are several macro-headwinds putting pressure on the company's business model that he does not expect to alleviate any time soon. 3. McDonald's (MCD) and Wendy's (WEN) downgraded to Neutral from Buy at Guggenheim. 4. QuintilesIMS (Q) was downgraded to Market Perform from Strong Buy at Raymond James and to Market Perform from Outperform at William Blair. 5. National Oilwell (NOV) downgraded to Sell from Neutral at Seaport Global with analyst Richard Hastings citing premium valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PH Parker-Hannifin
$142.95

4.02 (2.89%)

11/07/16
EVER
11/07/16
UPGRADE
EVER
Buy
Parker-Hannifin upgraded to Buy from Hold at Evercore ISI
Evercore ISI analyst David Raso upgraded Parker-Hannifin to Buy and raised its price target to $135 from $113 based on lowered expectations, valuation, and and accelerating inflation. The analyst is encouraged by orders turning positive year-over-year in Q3 for the first time in 7 quarters and said Parker is in the sweet spot given its heavy distributor and broad manufacturer presence to any positive swing in industrial inventory stocking patterns.
11/07/16
MSCO
11/07/16
UPGRADE
Target $139
MSCO
Overweight
Parker-Hannifin upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Mili Pothiwala upgraded Parker-Hannifin with an Overweight and a $139 price target citing topline growth, high earnings achievability, and valuation.
11/08/16
JPMS
11/08/16
UPGRADE
Target $121
JPMS
Neutral
Parker-Hannifin upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Ann Duignan upgraded Parker-Hannifin to Neutral saying fears of a prolonged decline in U.S. manufacturing have not materialized. The analyst believes 2017 will be a better year for industrial activity following the U.S. elections. She upped her price target for Parker-Hannifin shares to $121 from $117.
CLC Clarcor
$82.39

11.94 (16.95%)

06/09/16
KING
06/09/16
INITIATION
KING
Neutral
Clarcor reinitiated with a Neutral at CL King

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