Market Overview

UPDATE: Morgan Stanley Initiates Cummins at Equal-Weight on Valuation and Growth Outlook

Related CMI
Updated Research Report on Cummins - Analyst Blog
BMO Capital Bullish on Trucking Recovery

Morgan Stanley initiated its coverage on Cummins (NYSE: CMI) with an Equal-weight rating in the face of a weak demand outlook.

Morgan Stanley commented, "Cummins is a high-quality engine OEM likely to take share. Our North American truck forecasts along with those of our international colleagues paint an underwhelming demand picture, however, and we believe CMI's growth may disappoint as a result. Valuation is appropriate and we initiate at EW."

Cummins closed at $101.31 on Friday.

Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings

 

Most Popular

Related Articles (CMI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free