Analysts step up bullishness on Cummins

Cummins Inc. snagged a couple of ratings upgrades today from investment firms that follow the Columbus-based diesel engine maker.

Citigroup recommends holding the stock rather than selling and Credit Suisse rated Cummins “outperform” instead of “neutral.”

The changes follow a dip in Cummins’ stock price yesterday after its third-quarter earnings missed analyst expectations.

The shares fell 16 percent, to $111.36, but recovered somewhat today to trade near $115.

Cummins reported $1.69 in earnings per share, which fell short of the $1.95 anticipated by analysts surveyed by Thomson Financial.

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