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

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Barclays Constructs A Bullish Call On Caterpillar, CNH Industrial And Others
Oppenheimer Sees A Good Entry Point In Cummins Shares

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
Dec 2017BarclaysInitiates Coverage OnEqual-Weight
Dec 2017OppenheimerInitiates Coverage OnOutperform
Dec 2017Goldman SachsDowngradesBuyNeutral

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

 

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