On June 8, Cummins rose 3.12% in pre-market trading, trading at $671.57/share, with trading volume of $194,700.
On the news front, UBS upgraded Cummins from Neutral to Buy and significantly raised its target price from $565 to $850, implying approximately 27% upside from the current price. According to FactSet, the average analyst rating on Cummins is Overweight, with an average target price of $750.36.
From a fundamental perspective, Cummins reported Q1 revenue of $8.4 billion and raised its full-year revenue guidance to $36.4-$37.4 billion, representing 8%-11% year-over-year growth. The upward revision was primarily driven by stronger-than-expected demand in key markets including data center power generation. The company also announced an additional $450 million in capacity expansion investment to support growing demand.
(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.)
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