Cummins Inc. Stock Expected To Increase
Cummins Inc. is an international and publicly traded company that designs, develops, manufactures, and eventually sells service engines and a wide variety of related accessories. The company has been in business for nearly 100 years, is headquartered in Indiana, and is publicly traded on the New York Stock Exchange.
While the stock market has not looked to favorably over the past few years on manufacturers, recent news and other rumors have shown that investors, analysts, and other industry experts have stated that they expect good things out of Cummins's stock price over the next few years.
This past week, several analysts, including those at UBS and BMO have stated that they are increasing their stock price target of Cummins. The most recent predictions have stated that they think the stock could increase to as high as over $145 per share. This would provide investors with a fantastic return on their investment as the actual price of the stock is about ten percent less than the target.
Analysts have stated that they expect the company to continue to perform well and could see continued financial improvement at least through the year 2015. The main reasoning for the optimism for the company is that they have recently acquired several different distributors. By doing this, the company should have the ability to distribute their products in more marketplaces and will have the ability to do so at a lower expense level. The company's stock has already done well this year as shares are 10 percent higher for the year.