Market Overview

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

Related CMI
Barron's Recap: Meet The New China
Earnings Scheduled For October 28, 2014
Good Time to Buy Micron Technology, Cummins? (Fox Business)

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.

Latest Ratings for CMI

DateFirmActionFromTo
Nov 2014Standpoint ResearchDowngradesBuyHold
Oct 2014CitigroupMaintainsBuy
Oct 2014BarclaysMaintainsOverweight

View More Analyst Ratings for CMI
View the Latest Analyst Ratings

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

 

Related Articles (CMI)

Around the Web, We're Loving...

Get Benzinga's Newsletters