In a report released today, Michael Baudendistel from Stifel Nicolaus maintained a Buy rating on Cummins (NYSE: CMI), with a price target of $156. The company’s shares closed on Friday at $141.03.
According to TipRanks.com, Baudendistel is a 3-star analyst with an average return of 2.2% and a 56.4% success rate. Baudendistel covers the Industrial Goods sector, focusing on stocks such as Allison Transmission Holdings Inc, Wabash National Corp, and Freightcar America.
The word on The Street in general, suggests a Hold analyst consensus rating for Cummins with a $154.22 average price target.
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Based on Cummins’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.13 billion and net profit of $545 million. In comparison, last year the company earned revenue of $5.08 billion and had a net profit of $424 million.
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Cummins, Inc. engages in the design, manufacture, sale and service of diesel and natural gas engines and related technologies, including fuel systems, controls, air handing, filtration, emission, solutions and electrical power generation systems. It operates through the following segments: Engine, Distribution, Components and Power Generation.
