Cummins upgraded to Neutral at BofA on more positive truck production view

As previously reported, BofA analyst Michael Feniger upgraded Cummins (CMI) to Neutral from Underperform with a price target of $358, up from $354, as the firm adopts a more positive view on the U.S. truck production cycle. Cummins, the largest global truck engine manufacturer, is “clearly on stronger footing” after execution notably improved in 2024, argues the analyst, who sees this progress reflected in the stock’s current valuation.