Stock Rating Upgrade
The Value Trend Rating for Cummins Inc. (NYSE: CMI) improved in the last week from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Cummins Inc. (NYSE: CMI) stock closed at $300.35 on 4/8/24 after a slight decline of -0.1%. However, exceptionally low trading volume at 24% of normal accompanied the decline. The stock has risen 1.9% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, CMI is expected to continue to be a major Value Builder.
Cummins has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Cummins has a slightly negative Appreciation Score of 32 and a neutral Power Rating of 56, triggering the Low Neutral Value Trend Rating.
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