Goldman Sachs analyst Jerry Revich has maintained their neutral stance on CMI stock, giving a Hold rating today.
Geoff Meacham has given his Hold rating due to a combination of factors that affect Cummins Inc.’s (CMI) stock forecast. While acknowledging the potential for the company to benefit from the upcoming 2027 EPA standards, which could significantly increase Engine average selling prices, and positive developments such as the production ramp on the Daimler medium-duty platform and its promising position in the battery electric market through a joint venture, Revich remains cautious.
The primary reasons for maintaining a Neutral stance revolve around concerns such as limited prospects for margin expansion and the cyclical risks inherent in the industry. Moreover, the downward revision of the 2024-2025 EPS estimates, influenced by lower margin forecasts for the Components segment despite improved outlooks for Power Systems margins, underscores the complex and uncertain environment in which Cummins operates. These factors collectively contribute to the decision to rate CMI’s stock with a Hold.
In another report released today, Evercore ISI also maintained a Hold rating on the stock with a $231.00 price target.
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Cummins (CMI) Company Description:
Founded in 1919 and based in Indiana, Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through five segments: Engine, Distribution, Components, Power Systems and New Power.
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