Cummins Inc

CMI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$968.00	Kkylhy	Skdpwfbt

Cummins: Raises 2030 Targets at Its Analyst Day

Dawit Woldemariam

May 17, 2024

Cummins shared updates to its 2030 targets at its analyst day on May 16. Following the event, we’re leaving our $246 fair value estimate unchanged. Our key takeaway was that the company shows strong promise in the zero-emission transition. However, we think Cummins will need to execute in a few areas (namely, commercializing electrolyzers) before we become more optimistic about the company’s long-term prospects.

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