Wells Fargo Maintains Their Buy Rating on Cummins (CMI)

In a report released today, Andy Casey from Wells Fargo maintained a Buy rating on Cummins (CMI). The company’s shares closed last Tuesday at $195.02.

According to TipRanks.com, Casey is a 4-star analyst with an average return of 9.2% and a 57.8% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Parker Hannifin, Kennametal, and Navistar.

Cummins has an analyst consensus of Hold, with a price target consensus of $171.08, a -12.5% downside from current levels. In a report issued on July 14, Citigroup also maintained a Buy rating on the stock with a $200.00 price target.

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The company has a one-year high of $192.31 and a one-year low of $101.03. Currently, Cummins has an average volume of 1.24M.

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Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Distribution segment consists of parts, engines, power generation and service, which service and distributes its products and services. The Components segment supplies products such as, aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications. The Power Systems segment engages in power generation, industrial and generator technologies. The New Power segment designs, manufactures, sells and supports electrified power systems with components and subsystems, including battery, fuel cell and hydrogen production technologies. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.

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