SOURCE: Rothman Research

Rothman Research

April 14, 2010 08:52 ET

What Triggered a String of Upgrades in the Diversified Industrials Sector

JOHANNESBURG, SOUTH AFRICA--(Marketwire - April 14, 2010) - - As the economy slowly pushes its way through the rubbles of the recession, a few companies from bullishly performing industries resurface and catch analysts attention. One such industry that has lately been bestowed by a string of upgrades is the diversified industrials which saw five of its players upgraded by Robert W. Baird & Co., an employee-owned equity firm, on grounds of improving macroeconomic outlook. One of the companies that got drawn into Wall Street's lime-light is Ingersoll-Rand Plc (NYSE: IR), which was upgraded from 'neutral' to 'outperform'; the analyst at Baird citing a steady expansion in U.S. single-family house and an increasing industrial production. "Ingersoll deserves the upgrade. We have considered this stock as attractive for quite a while now for a few key reasons. Firstly, its leadership has made a splendid work in restructuring the company, and secondly, its products are going to hit a high demand in coming years if energy prices continue to soar," commented Jack Benassi of

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Another player in the diversified industrials category that got a positive analytical review is Cummins Inc. (NYSE: CMI) but this time the upgrade was issued by UBS Securities; from 'neutral' to 'buy.' With the resurgence of sales in the trucking industry, companies like Cummins that supplies trucks with engines and engines related components are also finding themselves in the green. UBS's survey disclosed that Cummins is on top of 40% of truckers' list for engine supplies. Jack Benassi stated that: "Cummins is making a good recovery with huge possibilities of growth in the mid to long term. With their new EPA 2010-compliant engine that boasts fuel-efficiently, Cummins is set to find a large pool of interested truckers."

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The dynamics behind analytical upgrades and why it has an impact on investors' decision-making and ultimately on the share price of a particular stock is quite simple to understand; upgrades from an analyst provide investors with a positive bearing on the stock as it would mean that the analyst issuing the opinion is foreseeing optimistic performance trend for this equity. Following their respective upgrades, both Ingersoll-Rand Plc and Cummins Inc. saw their stock prices surge on high volumes.

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