On Nov 06, major Wall Street analysts update their ratings for $Cummins (CMI.US)$, with price targets ranging from $350 to $425.
Morgan Stanley analyst Angel Castillo maintains with a buy rating, and maintains the target price at $425.
BofA Securities analyst Michael Feniger maintains with a sell rating, and sets the target price at $354.
Baird analyst Luke Junk maintains with a hold rating, and adjusts the target price from $330 to $372.
Truist Financial analyst Jamie Cook maintains with a hold rating, and adjusts the target price from $371 to $369.
Vertical Research analyst Jeff Kauffman initiates coverage with a hold rating, and sets the target price at $350.
Furthermore, according to the comprehensive report, the opinions of $Cummins (CMI.US)$'s main analysts recently are as follows:
Cummins' robust third quarter stands out as one of the few instances of surpassing expectations and elevating future projections within the Machinery sector. Subsequent to these Q3 outcomes, estimates were adjusted upward, and it is recognized that a loftier valuation is justified due to the robust performance in Power Systems. Nonetheless, the assessment of future valuation beyond mid-cycle levels encounters skepticism, with the suggestion that the market may be anticipating a substantial rebound by 2025, reaching peak earnings.
The company's reported 3Q24 results exceeded expectations and there was an increase in the full-year EBITDA guidance. Analysts appreciate the company's solid fundamental positioning to manage the near-term heavy-duty truck market softness, though this now stretches the valuation framework to the upper end of historical ranges.
Here are the latest investment ratings and price targets for $Cummins (CMI.US)$ from 5 analysts:
Note:
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