Cummins price target lowered to $231 from $235 at Deutsche Bank

Deutsche Bank analyst Nicole Deblase lowered the firm’s price target on Cummins to $231 from $235 and keeps a Hold rating on the shares. The quarter was "messy" for Cummins, as it continued to integrate the Meritor acquisition and incurred additional costs related to the Filtration separation, and while EBITDA was slightly better than consensus, EBITDA margin guidance for 2023 was disappointing, the analyst tells investors in a research note.