BUZZ-Truist, Jefferies raises Cummins PT on strong margin, demand outlook

Reuters
Oct 08
BUZZ-Truist, Jefferies raises Cummins PT on strong margin, demand outlook

** Truist and Jefferies hike PT on U.S truck engine maker Cummins CMI.N, aided by strong margin performance and expectations of continued demand across key segments such as engines and power systems

** CMI expects to gain market share from major OEMs starting in 2027, potentially adding ~$1.50 to base EPS, with upside if emission regulations are accelerated in key regions, says Truist

** Jefferies says co has strong growth potential in China, where rising engine penetration could help offset weakness in other markets

** Nine of 23 brokerages rate the stock "buy" or higher, thirteen "hold" and one "sell" ; their median PT is $414.50 - data compiled by LSEG

** Including session moves, shares up 24.6% YTD

Brokerage

New PT

Old PT

Rating

Jefferies

$500

$450

Buy

Truist

$434

$380

Hold

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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