Cummins price target raised to $355 from $315 at Baird

Baird raised the firm’s price target on Cummins (CMI) to $355 from $315 and keeps a Neutral rating on the shares. The firm is “leaning more optimistic” and less cautious on the vehicle technology and mobility sector into the Q2 reports. Auto suppliers should generally beat expectations in Q2 and Q3 visibility “seems reasonable overall,” the analyst tells investors in a research note. Baird upped estimates and price targets to reflect firmer industry fundamentals.