Cummins price target raised to $324 from $306 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Cummins to $324 from $306 but keeps a Neutral rating on the shares after its Q2 earnings beat. The firm is positive on the company’s prospects to deliver cycle over cycle earnings growth via share gains and potentially new content, but maintain a Neutral rating on the stock given the “early stages” of the U.S. truck production cut cycle, the analyst tells investors in a research note.