Cummins Inc. (CMI) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$715.76
Price Target
$621.10
Target Range
$540.00 — $730.00
Analyst Rating
Buy
Forward P/E27.2x
Trailing P/E34.9x
Forward PEG2.41
Implied Growth+36.7%
Median Target$605.00
Analyst Spread30.6%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$540
-24.6%
Consensus
$621
-13.2%
Bull Case
$730
+2.0%
Valuation Model TargetsConfidence: 61/100
Bear$308
Base$857
Bull$1131
CMI Price Target Analysis
Updated May 7, 2026As of May 7, 2026, Cummins Inc. (CMI) has a Wall Street consensus price target of $621.10, based on estimates from 51 covering analysts. With the stock currently trading at $715.76, this represents a potential downside of -13.2%. The company has a market capitalization of $98.89B.
Analyst price targets range from a low of $540.00 to a high of $730.00, representing a 31% spread in expectations. The median target of $605.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 26 analysts rating the stock as a Buy or Strong Buy,24 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, CMI trades at a trailing P/E of 34.9x and forward P/E of 27.2x. The forward PEG ratio of 2.41 reflects a premium valuation. Analysts expect EPS to grow +36.7% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $856.65, with bear and bull scenarios of $308.04 and $1131.48 respectively. Model confidence stands at 61/100, reflecting moderate uncertainty in projections.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Industrials stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside+9.0%
Avg Forward P/E24.1x
Peers with Coverage10 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 PCARPACCAR Inc | $61.3B | $116.51 | $124.50 | +6.9% | Hold | 20.3x | 45 |
 CATCaterpillar Inc. | $431.2B | $926.64 | $824.80 | -11.0% | Buy | 40.1x | 53 |
 DEDeere & Company | $160.4B | $591.64 | $680.54 | +15.0% | Hold | 33.2x | 46 |
 AGCOAGCO Corporation | $8.7B | $120.23 | $127.29 | +5.9% | Buy | 20.8x | 29 |
 CNHCNH Industrial N.V. | $13.4B | $10.82 | $13.25 | +22.5% | Buy | 26.1x | 14 |
 ALSNAllison Transmission Holdings, Inc. | $10.6B | $127.70 | $116.00 | -9.2% | Hold | 14.1x | 29 |
 BWABorgWarner Inc. | $12.3B | $59.41 | $68.80 | +15.8% | Buy | 11.5x | 38 |
 DNOWDnow Inc. | $1.4B | $13.50 | $17.00 | +25.9% | Buy | 21.3x | 16 |
 WABWestinghouse Air Brake Technologies Corporation | $45.9B | $270.49 | $291.00 | +7.6% | Buy | 25.5x | 34 |
 HLIOHelios Technologies, Inc. | $2.3B | $69.81 | $77.00 | +10.3% | Buy | 27.6x | 12 |
Upside Potential Comparison
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Start ComparisonCMI — Frequently Asked Questions
Quick answers to the most common questions about buying CMI stock.
What is the CMI stock price target for 2026?
CMI's consensus price target is $621.1, -13.2% below the current price of $715.76. The 51 analysts tracking CMI see downside risk at present valuations.
Is CMI a buy, sell, or hold?
CMI has a consensus rating of "Buy" based on 51 Wall Street analysts. The rating breakdown is predominantly bullish, with 26 Buy/Strong Buy ratings. The consensus 12-month price target of $621.1 implies -13.2% downside from current levels.
Is CMI stock overvalued or undervalued?
CMI trades at a forward P/E of 27.1892x, representing a moderate valuation. With analysts targeting $621.1 (-13.2% implied move), the stock appears close to fair value.
How high can CMI stock go?
The most bullish Wall Street analyst has a price target of $730 for CMI, while the most conservative target is $540. The consensus of $621.1 represents the median expectation. Our quantitative valuation model projects a bull case target of $1131 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover CMI stock?
CMI is heavily covered by Wall Street, with 51 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 26 have Buy ratings, 24 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the CMI stock forecast?
The 12-month CMI stock forecast based on 51 Wall Street analysts shows a consensus price target of $621.1, with estimates ranging from $540 (bear case) to $730 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $857, with bear/bull scenarios of $308/$1131.
What is CMI's fair value based on fundamentals?
Our quantitative valuation model calculates CMI's fair value at $857 (base case), with a bear case of $308 and bull case of $1131. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 61/100.
What is CMI's forward P/E ratio?
CMI trades at a forward P/E ratio of 27.2x based on next-twelve-months earnings estimates compared to a trailing P/E of 34.9x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy CMI stock?
Analysts are cautious on CMI, with 1 Sell ratings and a price target of $621.1 (-13.2% from current price). The "Buy" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do CMI price targets vary so much?
CMI analyst price targets range from $540 to $730, a 31% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $621.1 consensus represents the middle ground. Our model's $308-$1131 range provides an independent fundamental perspective.