UBS lifts Cummins to 'buy' on data center-led growth outlook
BUZZ-UBS lifts Cummins to 'buy' on data center-led growth outlook ** UBS upgrades rating on U.S. truck-engine maker Cummins CMI.N to "buy" from "neutral", lifts price target to $850 from $565
** New PT implies an upside of 30.5% to CMI's last close
** UBS says strong demand from data centers and power needs is set to drive growth across co's key segments, with above-consensus revenue and EBITDA expansion through 2028 and further upside from oil, gas, mining and prime power opportunities
** Adds pre-buying ahead of emissions rules is boosting truck demand in second-half of 2026, with underlying demand improving and a stronger market expected by 2028
** 14 of 24 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $580- data compiled by LSEG
** YTD, stock has risen 27.6%
(Reporting by Apratim Sarkar in Bengaluru)
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UBS lifts Cummins to 'buy' on data center-led growth outlook