Cummins Rated As "Best In Class"

Citigroup has published a research report on Cummins Inc. (NYSE: CMI) after the company's current "Best In Class" status, according to Citi.

In the report, Citigroup writes "CMI cited continued overall strength in key emerging markets, paced by truck and construction equipment markets. While forecasts for China truck markets in 2011 at this point are varied, and of course are at risk should monetary tightening measures impact overall growth rates, the company noted that near-term order trends (in to 1Q11) show no signs of slowing. It sees further growth continuing in India and especially Brazil, supported by infrastructure spending and upcoming (2012) emissions change (though market tightness is limiting customer ability to pre-buy)."

Citigroup maintains its Buy rating and has raised the price target from $107 to $110.

Cummins Inc. closed Friday at $94.31.