Wells Fargo Rates Cummins (CMI) buy, $874 Price Target

Wells Fargo keeps its positive stance on Cummins Inc as Wall Street firms adjust their targets for the engine maker, a 25.03% upside from the current price.

By EarningsIQ Research Desk · Published Jun 17, 2026, 12:02 PM EDT · Updated Jun 24, 2026, 7:02 AM EDT

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Wells Fargo rated Cummins Inc. ($CMI) "buy" with a $874 price target on June 17, 2026.

Since the rating, $CMI is down 3.2% after 1 week, down 9.7% after 1 month and down 25.7% to date (from the $715.12 close on Jun 17, 2026).

CMI Cummins Inc.

$531.33 +2.83% year to date

Daily close · Oct 16, 2026

Key Points

Wells Fargo analyst Jerry Revich reiterated a buy rating on Cummins Inc CMI on June 17, 2026, setting a price target of $874.00.
Wells Fargo's $874 price target implies 25.03% upside from Cummins Inc.'s ($CMI) current $699.05 share price.
The industrial equipment maker trades at $699.05, sitting below its 52-week peak of $737.76 and well above its 200-day moving average of $602.91.
A broader group of twenty covering analysts maintains a mean price target of $757.02 ahead of the company's next earnings report on November 5, 2026.

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Wells Fargo Keeps Positive Outlook on Cummins Inc

Wells Fargo analyst Jerry Revich refreshed his view on Cummins Inc., keeping a buy rating on the shares alongside an $874.00 price target. The update arrives as major financial institutions regularly review their models for the heavy-duty engine manufacturer. With the stock changing hands at $699.05, the new target suggests room for upward movement compared to where shares currently trade.

Where Cummins Shares Trade Today

Equity shares of Cummins Inc. change hands at $699.05, tracking close to the upper bound of their 52-week range. The stock has reached as high as $737.76 over the past year while finding a low water mark at $400.72. Trading activity places the price comfortably above its 50-day moving average of $605.34 and its 200-day moving average of $602.91. The company carries a trailing price-to-earnings ratio of 27.30 alongside a forward P/E ratio of 15.50 based on projected earnings.

12-month forecast

$CMI price target

Cummins Inc. daily closes and this analyst's $874 target. Not advice.

Analysts Set New Price Targets

Other major financial institutions have also updated their outlooks on the specialty industrial machinery firm. On October 12, 2026, Citigroup maintained a buy rating while setting a $630.00 target. Wells Fargo also kept an overweight rating on October 8, 2026, with a $760.00 target. Truist Securities maintained a buy rating on October 5, 2026, at a $779.00 target, while UBS kept a buy rating on September 30, 2026, with a $741.00 target. JP Morgan maintained a neutral rating at a $600.00 target on September 23, 2026. Earlier in the summer, Evercore ISI Group held an outperform rating on August 11, 2026, with a $782.00 target, UBS kept a buy rating at $835.00 on August 5, 2026, and Morgan Stanley kept an overweight rating at $761.00 on July 17, 2026. Altogether, twenty analysts maintain a mean price target of $757.02, with targets ranging from a low of $530.00 up to a high of $894.00.

Inside Cummins Operations

Headquartered in Columbus, Indiana, Cummins designs and builds power solutions across the globe. The enterprise operates through five core divisions: Engine, Distribution, Components, Power Systems, and Accelera. Its product catalog spans diesel and natural gas power plants, drivetrain parts, emission control systems, and turbochargers. The firm also provides backup power generators and emerging electrified power technologies including fuel cells and battery systems for commercial equipment manufacturers.

Upcoming Financial Calendar

Participants across the market will look toward the company's next scheduled earnings report on November 5, 2026, for further updates on revenue growth and profit margins. Analyst opinions and target adjustments will continue to shift as new financial data becomes public through upcoming filings and reports.