Cummins Inc. — Wall Street Analyst Estimates & Price Targets

CMI

NYSEIndustrialsIndustrial - MachineryCIK 0000026172cummins.comAbout CMI

Last close · Oct 16, 2026531.33−1.40 (−0.26%)

Market cap$73.1B

4 firms' latest targets, last 90 days: median $750.50 ($700.00–$779.00), 41% above the last close.

Price and published targets

daily close, 12 months · each dot a target, a firm's latest darker

Each firm's latest target

last 90 days · 4 firms

Date	Firm	Target	Previous	Change	Vs price then	Vs price now
2026-10-08	Wells Fargo	$760.00	$874.00	▼ 13%	+47%	+43%
2026-10-05	Truist	$779.00	$894.00	▼ 13%	+49%	+47%
2026-09-30	UBS	$741.00	$835.00	▼ 11%	+42%	+39%
2026-08-05	Bernstein	$700.00	$600.00	▲ 17%	+7%	+32%

Consensus estimates

revenue and EPS by fiscal year · reported years marked

FY	Revenue	YoY	EPS	YoY	Revenue range	EPS range	Analysts
2021reported	$24.0B	+21%	$14.61	+22%	est. $24.0B+0%	est. $15.03	6
2022reported	$28.1B	+17%	$15.12	+3%	est. $27.6B+2%	est. $16.30	5
2023reported	$34.1B	+21%	$5.15	-66%	est. $33.6B+1%	est. $19.83	12
2024reported	$34.1B	+0%	$28.37	+451%	est. $33.8B+1%	est. $20.50	14
2025reported	$33.7B	-1%	$20.50	-28%	est. $33.3B+1%	est. $22.79	12
2026	$37.6B	+12%	$29.45	+29%	$37.1B–$38.2B	$28.71–$30.19	14
2027	$41.3B	+10%	$34.66	+18%	$39.9B–$43.3B	$33.48–$36.85	14
2028	$44.8B	+9%	$40.34	+16%	$41.9B–$48.1B	$34.25–$42.73	14

A reported year shows the company's figures, with the consensus beside it (revenue against it in %). Reported EPS is GAAP diluted; the analysts' EPS usually leaves items such as stock compensation out, so the two are not like for like. Faded: a year the valuation models do not read — they read the first 3, and a later one only while 10 or more analysts cover every year up to it — or one under 5 analysts.

The analysts at a glance

$750.50median target, 41% above the last close

Firms with a target · last 90 days: 4
Lowest – highest target: $700.00 – $779.00
Current grades of 12 firms: positive / neutral / negative: 10 / 2 / 0
Upgrades / downgrades · 12 months: 6 / 1
Consensus revenue growth · next 3 FY: +10% a year

Current grades

each firm's latest · 12 firms

As of	Firm	Grade
2026-10-12	Citigroup	“Buy”
2026-10-08	Wells Fargo	“Overweight”
2026-10-05	Truist	“Buy”
2026-09-30	UBS	“Buy”
2026-09-23	J.P. Morgan	“Neutral”
2026-08-11	Evercore ISI	“Outperform”
2026-07-17	Morgan Stanley	“Overweight”
2026-06-01	Argus Research	“Buy”
2026-05-26	Raymond James	“Outperform”
2026-05-07	Barclays	“Overweight”
2026-02-09	Freedom Capital Markets	“Buy”
2026-01-26	Wolfe Research	“Peer Perform”

Grade changes

last 24 months · 15

Date	Firm	Grade
2026-06-08	UBS	“Neutral” → “Buy” upgrade
2026-02-09	Freedom Capital Markets	“Hold” → “Buy” upgrade
2026-01-26	Wolfe Research	“Outperform” → “Peer Perform” downgrade
2025-12-22	Raymond James	“Market Perform” → “Outperform” upgrade
2025-12-19	Barclays	“Equal Weight” → “Overweight” upgrade
2025-11-25	UBS	“Sell” → “Neutral” upgrade
2025-11-24	Truist	“Hold” → “Buy” upgrade
2025-09-03	Melius Research	“Hold” → “Buy” upgrade
2025-08-11	Wolfe Research	“Peer Perform” → “Outperform” upgrade
2025-05-27	Goldman Sachs	“Neutral” → “Buy” upgrade

50 more

2025-04-07	UBS	“Buy” → “Sell” downgrade
2025-02-05	Goldman Sachs	“Neutral” → “Buy” upgrade
2025-01-14	Bank of America	“Underperform” → “Neutral” upgrade
2024-12-09	J.P. Morgan	“Underweight” → “Neutral” upgrade
2024-11-13	Evercore ISI	“In Line” → “Outperform” upgrade
2024-03-15	UBS	“Neutral” → “Buy” upgrade
2024-01-19	Bank of America	“Neutral” → “Underperform” downgrade
2023-12-15	Bank of America	“Buy” → “Neutral” downgrade
2023-10-16	J.P. Morgan	“Neutral” → “Underweight” downgrade
2023-05-09	Evercore ISI	“Outperform” → “In Line” downgrade
2023-05-03	CFRA	“Strong Buy” → “Buy” downgrade
2022-07-20	Bernstein	“Outperform” → “Market Perform” downgrade
2022-03-18	UBS	“Buy” → “Neutral” downgrade
2021-08-24	Goldman Sachs	“Buy” → “Neutral” downgrade
2021-07-16	TD Cowen	“Market Perform” → “Outperform” upgrade
2021-05-17	Bank of America	“Neutral” → “Buy” upgrade
2021-03-04	Jefferies	“Hold” → “Buy” upgrade
2021-02-05	Morgan Stanley	“Conviction Buy” → “Equal Weight” downgrade
2020-09-08	UBS	“Neutral” → “Buy” upgrade
2020-05-12	Piper Sandler	“Overweight” → “Neutral” downgrade
2020-02-13	Goldman Sachs	“Neutral” → “Buy” upgrade
2020-02-06	UBS	“Sell” → “Neutral” upgrade
2020-01-14	Wells Fargo	“Equal Weight” → “Overweight” upgrade
2019-11-21	Raymond James	“Market Perform” → “Perform” revised
2019-11-08	Evercore ISI	“In Line” → “Outperform” upgrade
2019-10-30	CFRA	“Buy” → “Hold” downgrade
2019-07-02	Loop Capital	“Hold” → “Sell” downgrade
2019-05-31	Evercore ISI	“Outperform” → “In Line” downgrade
2019-05-01	Loop Capital	“Buy” → “Hold” downgrade
2019-04-16	Citigroup	“Neutral” → “Buy” upgrade
2019-02-07	Baird	“Neutral” → “Outperform” upgrade
2019-02-07	Oppenheimer	“Outperform” → “Perform” downgrade
2018-10-31	Baird	“Underperform” → “Neutral” upgrade
2018-10-30	J.P. Morgan	“Underweight” → “Neutral” upgrade
2018-10-04	Piper Sandler	“Neutral” → “Overweight” upgrade
2018-08-24	J.P. Morgan	“Neutral” → “Underweight” downgrade
2018-07-10	Stifel	“Hold” → “Buy” upgrade
2018-06-18	Standpoint Research	“Hold” → “Buy” upgrade
2018-05-03	Bank of America	“Buy” → “Neutral” downgrade
2018-05-02	Buckingham	“Buy” → “Neutral” downgrade
2018-05-02	Wells Fargo	“Outperform” → “Market Perform” downgrade
2018-05-02	UBS	“Neutral” → “Sell” downgrade
2018-03-19	Deutsche Bank	“Sell” → “Hold” upgrade
2018-01-19	Bank of America	“Neutral” → “Buy” upgrade
2017-12-01	Goldman Sachs	“Buy” → “Neutral” downgrade
2017-10-12	Longbow Research	“Buy” → “Neutral” downgrade
2017-04-18	Piper Sandler	“Overweight” → “Neutral” downgrade
2017-01-19	Longbow Research	“Neutral” → “Buy” upgrade
2017-01-09	Barclays	“Underweight” → “Equal Weight” upgrade
2016-12-01	CLSA	“Buy” → “Outperform” revised

Targets, grades and estimates are quoted from third parties (via Financial Modeling Prep) and are theirs, not ours; each target links to the report it was published in. A firm counts once, at its latest target or grade.