Street View: Cummins North American truck market poised for recovery
U.S. truck-engine maker Cummins CMI.N on Thursday posted a marginal rise in fourth-quarter revenue on strong demand for its power-generation systems and distribution segments.
CMI's shares up 1.5% at $549 premarket
NORTH AMERICAN TRUCK MARKET VOLUMES
Morgan Stanley says fears of a slowdown in CMI's power systems were overdone; notes two months of strong orders suggest the North American Class 8 truck market has bottomed and could recover this year
Jefferies says CMI's power systems should drive 2026 growth; sees potential for truck volumes to inflect in second half of the year with long-term growth boosted by a secular power-gen cycle
Truist says the North American truck cycle is early in recovery with better orders and expects CMI to beat and raise guidance through the year
Brokerage | New PT
| Old PT |
Morgan Stanley | $675 | $600 |
Jefferies | $645 | $630 |
Truist | $703 | $653 |
BofA | $540 | $450 |
UBS | $565 | $500 |
Bernstein | $600 | $544 |
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