Cummins price target raised to $315 from $295 at Baird

Baird analyst Luke Junk raised the firm’s price target on Cummins to $315 from $295 and keeps a Neutral rating on the shares. The firm said 2Q24 results were above expectations across the board and upwardly revised 2024 guidance as Baird has an increasingly glass half-full view of Truck fundamentals and are bullish on the company’s continued Power Systems strength, but believe both are largely priced in.