Movement Alert｜Cummins Rises 3.07% in Regular Trading, Multiple Banks Raise Price Targets Amid Dividend Increase

Market Focus07-22 00:15

On July 22, Cummins rose 3.07% in regular trading, trading at $659.15/share, with turnover of $187 million.

On the news front, multiple investment banks recently raised their price targets on Cummins in quick succession. Morgan Stanley lifted its target to $761 from $752 while maintaining an Overweight rating, and Citigroup raised its target to $790 from $770, maintaining a Buy rating. The company also announced a quarterly dividend increase to $2.20 per share, payable September 3 to holders of record August 21. According to FactSet, the stock carries an average analyst rating of Overweight with a mean price target of approximately $785.67.

Fundamentally, Cummins secured an approximately 2GW natural gas generation order for data center construction, estimated by UBS at around $800 million in total value. The company also raised its 2030 revenue target to $45 billion to $50 billion at its Analyst Day, with an EBITDA margin target exceeding 20%, up from prior projections of $43–$48 billion in revenue and 17%–18% EBITDA margin.

(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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