Cummins upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded Cummins citing expectations for a positive inflection in end market demand and the company's above market growth. Wells raised its price target range for shares to $168-$171 from $133-$136.
Cummins upgraded at RW Baird Baird upgraded Cummins to Outperform from Neutral and raised its price target to $166 from $155. The firm said expectations have been reset and the company is poised to deliver steady earnings growth and shareholder returns. Baird believes the North American truck cycle can last longer and at higher levels than consensus expectations and thinks Cummins' stable cash flow will likely continue to enhance shareholder value.