Oppenheimer analyst Noah Kaye maintains $Cummins (CMI.US)$ with a hold rating.
According to TipRanks data, the analyst has a success rate of 63.8% and a total average return of 14.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Cummins (CMI.US)$'s main analysts recently are as follows:
The company's robust third-quarter performance stands out as one of the limited instances of surpassing expectations and enhancing forecasts within the Machinery sector. Following these third-quarter outcomes, estimates have been increased, and a greater multiple is deemed justifiable due to the vigor in Power Systems. Nevertheless, there are reservations regarding valuation growth beyond mid-cycle levels. It is presumed that the market is factoring in a considerable rebound by 2025, reaching peak earnings.
The company's 3Q24 results exceeded expectations, which led to a raised full-year EBITDA forecast. The firm appreciates the company's strong fundamental positioning to effectively manage near-term challenges in the heavy-duty truck segment, although this now stretches the valuation framework towards the upper end of the historical spectrum.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
