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Cummins Inc. (NYSE:CMI): Baird recommends adding to positions in Cummins along with naming it a Top Idea in Global Commercial Vehicles. The firm has decided to increase its price target to $132 from $119 due to improving investor sentiment, potential for demand recovery, and a rebound in the second half of 2013 earnings. The firm gives the stock an Outperform rating.
Delphi Automotive PLC (NYSE:DLPH) is still recommended by Baird, and the firm has named it as a Top Idea in the Global Automotive space because of an increase in demand in the US and China, 2H 2013 earnings growth , and the possibility of revaluation of company since investors recognize strength of its transformed business model. There is an Outperform rating and a $48 price target, raised from $41, on the stock.
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United Continental Holdings (NYSE:UAL) Q4 EPS has been lowered by Sterne Agee due to an increase in winter storm impact than the previous year, and earlier labor accruals for new labor contracts than predicted. The firm predicts that these issues will not have an effect the company’s 2013 results, and it keeps its Buy rating on the stock.
Micron Technology Inc. (NASDAQ:MU): According to Wedbush, the pullback in the company’s shares after it showed weaker Q1 results than expected has created a compelling entry point for investors possessing an increased risk/reward tolerance. Wedbush has stated that despite the typical seasonal slowdown in demand for DRAM and NAND, spot pricing during the holiday week has continued to be steady, which is seen as a positive for Micron. Wedbush thinks that the company has seen the worst, and it reiterates its Outperform rating on the stock.
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