Evercore ISI Group has recently released an update regarding Cummins (CMI, Financial). The firm's analyst, David Raso, has maintained the "Outperform" rating for the company. Despite keeping the rating consistent, there has been a notable adjustment in the price target for Cummins.
The new price target set by Evercore ISI Group stands at $419.00 USD, which is a decrease from the prior target of $451.00 USD. This adjustment represents a 7.10% reduction in the previous price target.
Investors and market watchers may want to keep an eye on Cummins (CMI, Financial) as Evercore ISI Group continues to signal confidence in the company's performance, albeit with a revised price outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Cummins Inc (CMI, Financial) is $355.03 with a high estimate of $460.00 and a low estimate of $260.00. The average target implies an upside of 6.14% from the current price of $334.48. More detailed estimate data can be found on the Cummins Inc (CMI) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, Cummins Inc's (CMI, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cummins Inc (CMI, Financial) in one year is $297.90, suggesting a downside of 10.94% from the current price of $334.48. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cummins Inc (CMI) Summary page.
