Cummins price target lowered to $308 from $375 at JPMorgan

JPMorgan lowered the firm’s price target on Cummins (CMI) to $308 from $375 and keeps a Neutral rating on the shares as part of a Q1 preview for the trucks and rail supplier group. To reflect JPMorgan economists raising the probability of contraction in real U.S. GDP in the second half of 2025, the firm reduced its 2025 North America truck builds forecast to down 20% year-over-year, or 265,000 units from 299,000. As a result, JPMorgan cut estimates and price targets across the board.