With a short percentage of shares outstanding of 1.49%, Cummins Inc. (NYSE:CMI) is among the 7 Best Fusion Energy Development Stocks to Buy.
On June 17, Wells Fargo raised its price target for Cummins Inc. (NYSE:CMI) to $874 from $794 while maintaining an Overweight rating on the shares
The firm cited the company’s behind-the-meter prime power award with Circe Energy for high-performance computing data centers in West Texas involving its 78L and 60L engine platforms, a development that occurred more than a year ahead of expectations. Wells Fargo also highlighted additional growth opportunities in Alberta, underscoring increasing demand for Cummins’ power solutions supporting rapidly expanding data center infrastructure. On June 1, Argus raised its price target on Cummins Inc. (NYSE:CMI) to $770 from $696 and reiterated a Buy rating.
The firm believes Cummins is well-positioned to benefit from the favorable economics of natural gas relative to refined and distillate fuels, as well as increasingly stringent environmental regulations across the United States and international markets. Argus also expects the company to experience sustained long-term demand from truck and machinery manufacturers, supported in part by continued infrastructure development across emerging economies. Founded in 1919 and headquartered in Columbus, Indiana, Cummins Inc. (NYSE:CMI) designs, manufactures, and services diesel, natural gas, electric, and hybrid powertrains, as well as hydrogen production and fuel cell systems.