Truist is Bullish on Cummins Inc. (CMI)

Truist analyst Jamie Cook raised the price target for Cummins Inc. (NYSE:CMI) to $730 from $703 and maintained a Buy rating, citing strengthening conditions in machinery and industrial names after a recession and a rebounding industrial market. Wells Fargo also increased its price target for CMI to $693 from $630, maintaining an Overweight rating due to an optimistic financial performance outlook driven by a supply-driven machinery recovery and broader non-residential development. Cummins Inc. specializes in designing, manufacturing, and servicing diesel and natural gas engines, electric and hybrid powertrains, and related components.

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