Cummins price target raised to $349 from $315 at Truist

Truist raised the firm’s price target on Cummins to $349 from $315 and keeps a Hold rating on the shares after its Q2 earnings beat and guidance raise. The company’s performance was stellar across the entire portfolio, and its Power Systems is “worth calling out” after its EBITDA margin expansion as it becomes the highest margin business in the portfolio, the analyst tells investors in a research note.