Wells Fargo added Cummins (CMI) to the firm’s Q2 Tactical Ideas List. The firm is a buyer of Cummins entering Q2, as it sees an under-supplied data center tier 1 market; potential announcement of a natural gas engine in May; $2 in incremental EPS from EPA27; and tight U.S. truck spot market utilization. Wells has an Overweight rating on the shares with a price target of $630.
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