Goldman Sachs analyst Jerry Revich maintains $Cummins (CMI.US)$ with a hold rating, and sets the target price at $370.
According to TipRanks data, the analyst has a success rate of 63.5% and a total average return of 10.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Cummins (CMI.US)$'s main analysts recently are as follows:
Cummins' robust third-quarter performance stands out as one of the rare instances of surpassing expectations and enhancing forecasts within the Machinery sector. Following these results, estimates were increased, and the company's Power Systems' vigor justifies a higher valuation multiple. Nevertheless, apprehensions remain regarding the potential for further valuation growth beyond mid-cycle levels, coupled with the anticipation that the market has already factored in a considerable earnings recovery by 2025.
The company's 3Q24 results exceeded expectations alongside an increase in full-year EBITDA guidance. The company is well-positioned to navigate potential near-term heavy-duty truck market softness, although the current valuation is approaching the upper end of its historical range.
Note:
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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.
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