Citigroup lifts Cummins PT on positive earnings growth view

Cummins India

20/11/2024 13:01

** Citigroup lifts PT of vehicle engine and power systems
maker Cummins  CMI.N  to $415 from $375, maintains "buy" rating
    ** The new PT represents a 14.7% upside to CMI's last close
    ** "We think CMI can still grow earnings by low single
digits in 2027, helped by expected top-line growth and margin
improvement in Power Systems, Distribution, and Accelera, plus
anticipated growth in joint venture earnings" - Citigroup
    ** Eight brokerages rate the stock "buy" or higher, 14
"hold" and two "sell"; their median PT is $369 - LSEG data
    ** As of last close, stock had risen 51% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))