Market Overview

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

Share:
Related CMI
Three Stocks Breaking Out
Jim Cramer Gives His Opinion On Akamai Technologies, Chevron And Others
Rowland & Co Investment Counsel Buys MiMedx Group Inc, Compass Minerals International Inc, ... (GuruFocus)

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
Aug 2017Deutsche BankMaintainsSell
Apr 2017PiperJaffrayDowngradesOverweightNeutral
Apr 2017Seaport GlobalInitiates Coverage OnNeutral

View More Analyst Ratings for CMI
View the Latest Analyst Ratings

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

 

Related Articles (CMI)

View Comments and Join the Discussion!