The firm has a $150 price target on shares of the Columbus, IN-based diesel engine manufacturer.
The company is nearing deep trough levels in many of its end markets, CLSA noted.
But Cummins is now poised to make a recovery in major North American and industrial end markets in 2018, the firm estimates, the Fly notes.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: CMI