Movement Alert｜Cummins Rises 3.1% in Pre-Market Trading, Data Center Power Deal and Analyst Price Target Upgrade Drive Momentum

Market Focus06-18

On June 18, Cummins rose 3.1% in pre-market trading, trading at $734.28/share, extending a multi-day rally. The move was driven by a major supply agreement with Circe Energy and a significant analyst upgrade from Wells Fargo.

On June 17, Cummins announced an agreement with Circe Energy to supply approximately 2 gigawatts of natural gas-powered generator sets for a behind-the-meter microgrid supporting a high-performance computing data center campus in West Texas, with deliveries scheduled from 2026 through 2030. UBS Securities characterized the order as a positive surprise for investors, estimating the deal could total approximately $800 million at roughly $400,000 per megawatt, translating into $1 to $1.50 per share in earnings over the delivery period.

On the same day, Wells Fargo raised its price target on Cummins from $794 to $874, maintaining an overweight rating. FactSet data shows the analyst consensus average target at $773.17. UBS also reiterated its buy rating with an $850 price target. The expanding data center power demand continues to open significant growth opportunities for Cummins' natural gas generation business.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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