Cummins price target lowered to $315 from $407 at Baird

Baird lowered the firm’s price target on Cummins (CMI) to $315 from $407 and keeps a Neutral rating on the shares. The firm reverted to a more cautious stance in the vehicle technology and mobility sector. The Q1 auto supplier results should be around expectations, but risk/reward “appears upside down,” the analyst tells investors in a research note. Baird expects guidance updates to be more challenging due to likely disruption amid initial auto tariff implementation.