Truist Financial analyst Jamie Cook maintains $Cummins (CMI.US)$ with a hold rating, and adjusts the target price from $371 to $369.
According to TipRanks data, the analyst has a success rate of 67.6% and a total average return of 13.5% 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 performance in the third quarter stands out as one of the rare instances of surpassing expectations and elevating projections in the Machinery sector. Analysts have adjusted their estimates upward post the Q3 outcomes, suggesting that the substantial performance in Power Systems justifies a more generous valuation. Nonetheless, there appears to be limited potential for valuation growth beyond mid-cycle levels, and it is posited that the market is already pricing in a considerable rebound by 2025 to peak earnings, casting some skepticism on further upside.
Analysts have noted that Cummins' third-quarter results surpassed expectations, accompanied by a rise in the full-year EBITDA forecast. They acknowledge the company's strong fundamental position to handle potential short-term challenges in the heavy-duty truck segment, yet they also recognize that the current valuation approaches the upper limits of traditional historical ranges.
Note:
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