Cummins Inc

CMI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Cummins: Diversification Efforts Continue Amid Truck Engine Disintermediation Risk

George Maglares

Apr 21, 2025

After taking a fresh look at Cummins, a leading global supplier of diesel and other engines serving heavy- and medium-duty trucks and other industrial end markets, we’ve raised our fair value estimate to $336 per share from $281. This reflects our more constructive view on heavy-duty truck demand and the company’s efforts to diversify into truck components and other industrial applications. We’re maintaining our narrow economic moat rating and Standard Capital Allocation Rating.

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Cummins Inc

Cummins: Diversification Efforts Continue Amid Truck Engine Disintermediation Risk

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