Cummins

CMI · NYSE

$536.22+$14.09 (+2.70%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $522.13

CMI analyst rating

BuyConsensus of 13 analysts over the last 12 months. 85% rate it a buy.

Strong buy0
Buy11
Hold2
Underperform0
Sell0

12-month price target · 23 analysts

Average $755.57 (+40.9% upside)

Low: $546.01
Now: $536.22
High: $938.70

Upgrades and downgrades

The latest rating actions, newest first

CMI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 19, 2026	Maintains	Overweight	$760.00 → $675.00	39%
Citigroup	Oct 12, 2026	Maintains	Buy	$790.00 → $630.00	61%
Wells Fargo	Oct 8, 2026	Maintains	Overweight	$874.00 → $760.00	54%
Truist Securities	Oct 5, 2026	Maintains	Buy	$894.00 → $779.00	59%
UBS	Sep 30, 2026	Maintains	Buy	$835.00 → $741.00	57%
JP Morgan	Sep 23, 2026	Maintains	Neutral	$690.00 → $600.00	53%
Evercore ISI Group	Aug 11, 2026	Maintains	Outperform	$845.00 → $782.00	64%
UBS	Aug 5, 2026	Maintains	Buy	$850.00 → $835.00	57%
Morgan Stanley	Jul 17, 2026	Maintains	Overweight	$752.00 → $761.00	42%
Citigroup	Jul 14, 2026	Maintains	Buy	$770.00 → $790.00	61%

The case for and against

Updated May 12, 2026

Bull case

Cummins is facing potential risks related to macroeconomic factors, alternative powertrain adoption, and trade tensions, but has reported strong earnings and sales in power generation and pickup trucks. Additionally, the company is undergoing a strategic review of its Electrolyzer business and faces uncertainty with the definition of U.S. content. Despite these challenges, Cummins is investing in R&D and has potential for growth in data centers, AI, and power demand.

Bear case

Cummins is facing numerous challenges, including declining engine margins due to depressed demand, elevated R&D expenses, and tariff headwinds. Additionally, the company's unique business model, in which it competes with its customers in the heavy-duty truck industry, poses a risk for long-term growth potential. Furthermore, Cummins' financials are currently under pressure with a high level of R&D spending and a heavy reliance on joint ventures in highly competitive markets, leading to a negative outlook for the company's stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.