Cummins price target raised to $275 from $245 at JPMorgan

JPMorgan analyst Tami Zakaria raised the firm’s price target on Cummins to $275 from $245 and keeps an Underweight rating on the shares. The analyst believes the recent rally in the shares is primarily driven by short covering. The firm points out the latest ACT Research data suggests stronger than anticipated truck builds year-to-date in North America and that there is optimism around the company’s exposure to data centers.