Barclays lifts Cummins PT on growth potential in China

Barclays raises price target on truck-engine maker Cummins CMI.N to $387 from $381, an upside of 10.4% from the stock's last close

Rating unchanged at 'equal weight'

Says co efficiently manages costs in tough markets and also expects co to benefit from potential upside from gains in China and recovering supply chains

Further anticipates strong expansion in co's data center facilities

But notes truck demand is falling in 2025, due to falling orders, rising cancellations and inventories, and declining production across Class 6-8 vehicles

Lifts 2025 EPS forecast to $21.47 from $21.18

Average of 23 brokerages rate the stock equivalent to 'hold'; their median PT is $357.62- data compiled by LSEG

As of last close, stock had risen about 1% YTD