Truist Raises its Price Target on Cummins (CMI)

Cummins Inc. (NYSE:CMI) is one of the 15 Best Data Center Stocks to Buy and Hold for the Next Decade.

On July 2, 2026, Truist raised the firm's price target on Cummins Inc. (NYSE:CMI) to $901 from $815 and kept a Buy rating on the shares. Truist adjusted estimates and targets in the machinery, infrastructure services, and multi-industry group as part of a Q2 preview. The firm sees a positive setup for Q2 earnings reports across the sector, with demand trends remaining strong and supported by secular growth tailwinds in power, data center, aerospace and defense, and infrastructure.

On June 17, Wells Fargo raised the firm's price target on Cummins to $874 from $794 and kept an Overweight rating on the shares. Wells Fargo cited a behind-the-meter prime power award with Circe Energy for West Texas HPC data centers for Cummins' 78L and 60L products, over a year earlier than expected. Wells Fargo also sees additional opportunities in Alberta as outlined at its conference.

On June 8, UBS upgraded Cummins to Buy from Neutral with a price target of $850, up from $565. UBS cited the improving truck market for the upgrade, along with double-digit growth in Cummins' power business, a supportive truck outlook, and the rollout of new engines with more content. UBS said consensus estimates underappreciate Cummins's potential upside from power and a more supportive truck cycle.

Cummins Inc. (NYSE:CMI) offers various power solutions worldwide.

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