UPDATE: Goldman Sachs Reiterates CL-Buy Rating on Cummins on Strong Product Cycle

In a report published Friday, Goldman Sachs reiterated its Conviction List-Buy rating on Cummins

. Goldman Sachs noted, “We reiterate our CL-Buy on CMI as Navistar's turnaround progress utilizing Cummins engines (1) reinforces our view that Navistar will award Cummins a $400 mn medium duty aftertreatment contract and (2) provides upside to CMI's US heavy duty market share estimates.” Cummins closed on Thursday at $115.87.