FrontPage is India's Stock Market Social Network
Join 50,000+ Traders and Investors

CUMMINSIND Consensus Forecast

No. of reports in last year
2
No. of analysts
2
Average Consensus Forecast
770
Consensus Potential
-32.12%

CUMMINSIND Price Target Potential

BrokerageTargetPotential
HDFC Securities106819.01%
Prabhudas Lilladher472-83.25%

CUMMINSIND Targets in FrontPage Forums

7 Users have submitted 7 trade ideas of Rs. 780,729.85 for CUMMINSIND
100% Bullish
0% Bearish
See buy or sell ideas on FrontPage Forums >>

CUMMINSIND Ratings

Long term CUMMINSIND rating by FrontPage users
3/5 (7 Ratings)

2 CUMMINSIND share price target reports by brokerages below. See what is analyst's view on CUMMINSIND share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
  1. Home
  2. CUMMINSIND Forum
  3. CUMMINSIND Price Target

CUMMINSIND Share Price Target

CUMMINSIND Share Price Target - Broker Reports - 2021

15-Mar-21
Price @ Call: 862.65
Target: 1068
BUY

CUMMINSIND Share Price Target - Broker Reports - 2020

30-Oct-20
Price @ Call: 437.65
Target: 472
ACCUMULATE
7-Jul-20
Price @ Call: 431.23
Target: 330
SELL
Downgrade to Sell, with lower TP of INR330: We downgrade Cummins to Sell with lower TP of INR330 (from INR360) as we lower our target multiple to 15x from 16x earlier. We acknowledge that despite macro headwinds, the company has done a commendable job in FCF conversion, resulting in a strong balance sheet. Rental and dividend incomes have enabled the company to significantly increase dividend payouts over the years, owing to which it has one of the best payout ratios in the Capital Goods sector. However, the lack of growth drivers is yet to be fully factored in the valuations, in our view
... Read more
18-Jun-20
Price @ Call: 373.15
Target: 472
BUY
Cummins India (KKC) reported a mixed bagged performance with higher other income and lower effective tax rate leading to a positive surprise on profitability. However, operational performance was weak on account of weak economic environment and impact of Covid-19 Pandemic. Domestic/Exports revenues declined 22%/21% YoY, for the quarter. Management indicated that the current scenario in domestic markets would continue for next 3-6months. They indicated data centers, hospitality, telecom, critical power, railways would help to drive domestic growth. Further, exports market would remain weak due to global economic challenges and will likely revive from 2H onwards based on improved demand environment. We believe that KKC would significantly impact in 1HFY21E due to nationwide lockdown and consequential impact on the economy. We remain cautious on account of a) deepening slowdown in the export markets, b) demand recovery to pick-up gradually and c) Working Capital Stress with higher inventory levels. The stock is currently trading at 19.3x/17.2x FY21E/22E. Given current scenario and correction in stock price by ~40-50% plus over last 2 months, we believe risk reward is highly favorable for the stock and expect to give reasonable returns in the long run. We maintain BUY on the stock with a TP of Rs472.
... Read more
27-Apr-20
Price @ Call: 402.23
Target: 493
BUY

CUMMINSIND Share Price Target - Broker Reports - 2019

31-Oct-19
Price @ Call: 549.31
Target: 545
SELL
Cummins continues to face structural issues like weak demand, reduced pricing power, and volatile overseas business impacting EBITDA margins. In the last decade, EBITDA margins dropped from 19% in FY11 to 15% in FY19 and for next two years it may remain lower than FY19 level. Hence, we maintain ‘SELL’ rating on Cummins by valuing it at 21x FY21E earnings for a target of Rs. 545. Key upside risk to our call is margin expansion due to cost control measures.
... Read more
25-Oct-19
Price @ Call: 541.72
Target: 543
HOLD
KKC management has further lowered its overall revenue guidance with domestic revenue growth guidance from 8- 10% to 3-5% and de-growth of 20% from 12-15% in exports for FY20. We have cut EPS estimates by FY20/21E by 11%/17% for Cummins on account of a) weak 1HFY20 reported earnings, b) deepening slowdown in the export markets and c) delay in domestic recovery. The stock is currently trading at 24x/22x FY20/21E. We maintain Hold rating with revised TP of Rs543 (22xFY21E).
... Read more
25-Oct-19
Price @ Call: 541.72
Target: 543
HOLD
On the exports, challenges continued in various geographies with ME and Africa witnessed 50% reduction demand, Brazil - 30%, China -20%, Europe -30% and UK -20% YoY. ME and Africa combine contribute 30% of export sales. KKC management has further lowered its overall revenue guidance with domestic revenue growth guidance from 8- 10% to 3-5% and de-growth of 20% from 12-15% in exports for FY20. We have cut EPS estimates by FY20/21E by 11%/17% for Cummins on account of a) weak 1HFY20 reported earnings, b) deepening slowdown in the export markets and c) delay in domestic recovery. The stock is currently trading at 24x/22x FY20/21E. We maintain Hold rating with revised TP of Rs543 (22xFY21E).
... Read more
29-Aug-19
Price @ Call: 569.37
Target: 619
HOLD
Over the next five years, management indicated of new trend lines viz. infrastructure spend by the government, Emissionized Products, Alternate fuels, Digitization and Connectivity. The company is fully geared up for launching new CPCB IV+ products which are expected to be launched in India by 2020-21. We expect CIL to deliver earnings CAGR of 4% over FY19-21E. The stock is currently trading at 23x/20x FY20/21E and we maintain Hold rating with TP of Rs619 (22x FY21E).
... Read more
13-Aug-19
Price @ Call: 599
Target: 695
BUY
Lowering earnings estimate and TP; maintaining Buy on cheap valuations:We cut our earnings estimate by 13%/11% for FY20/21 to factor in (a) the pressure on margins, given intense competition in the domestic business and (b) the weak exports outlook. We scale down our TP to INR695 as we assign a target multiple of 24x FY21E EPS. At CMP, the stock trades at FY20/21E P/E of 24x/21x. We maintain Buy given cheap valuations.
... Read more
9-Aug-19
Price @ Call: 602.5
Target: 619
HOLD
Disappointing quarter, full year guidance cut
Cummins India (KKC) reported one of its weakest quarterly performance with flat sales and ~490bps YoY dip in EBITDA margin in Q1FY20. While domestic sales up 16% YoY, exports fell sharp 26%YoY at Rs3.3 bn (much lower than earlier guidance). With weak Q1FY20 performance and expectations of further weakness, KKC management has lowered its overall revenue guidance with reducing domestic revenue growth guidance from 10-15% YoY to 8-10% and de-growth of 12-15% in exports (earlier guided for flat to marginal decline) for FY20. Powergen and Distribution business is holding up well but the industrial part of the business has been weak due to slowdown in the construction and mining end-market. Construction segment was affected largely due to financial crunch and monsoon effect. During the quarter export markets like Middle east, Africa and Asia (excluding China) have seen decline of 25-30%. KKC is seeing weak demand from exports markets amid uncertain global growth and volatile forex markets. We have cut EPS estimates by 13% each for FY20/21E, factoring weak demand outlook. The stock is currently trading at 25x/22x FY20/21E. We have downgraded the stock to Hold from Accumulate with revised TP of Rs619 (22xFY21E).
... Read more
21-Jun-19
Price @ Call: 743.76
Target: 792
HOLD
CIL continues to benefit from improving government spend on infrastructure while weak global cues may continue to put pressure on the overall margins of the company. Currently, CIL is trading at a P/E of 23x and 21x on FY20E and FY21E EPS. Our Target of Rs792 implies 24x on FY21 EPS and revise our rating to Hold from Accumulate.
... Read more
31-May-19
Price @ Call: 773.79
Target: 844
HOLD
We revise down our earnings estimate for FY20/FY21 by 8.5%/10.8% on theback of higher mix of low margin domestic businesses and lower exports whichimpact EBITDA margin by 118 bps/142 bps than our earlier estimate. We maintain‘HOLD’ rating on Cummins by valuing it at 26x FY21E earnings for a target price of Rs. 844. Key upside risk to our call is exports growth and key downside risk is adverse product mix which could dent margins further. Unveiling of new emission norms in India for gensets could assure in pricing power to players with technologies and competitive intensity could be higher which now is unclear and we are yet to price in the same in estimates.
... Read more
27-May-19
Price @ Call: 756
Target: 910
BUY
We cut our earnings estimate by 8%/6% for FY20/21E to factor in (a) pressure on margins, given the intense competition and inability to take price hikes, and (b) muted exports outlook. We maintain Buy with a TP of INR910 (28x FY21E EPS, in line with its 10-year average multiple).
... Read more
27-May-19
Price @ Call: 756
Target: 832
ADD
We have increased FY20/FY21 sales estimates by 2%/3% to factor in the strong traction from domestic industrial segment. Margins are expected to remain flat in FY20 as regular price hikes & cost rationalization measures to offset for lower contribution from the high margin exports business. We assign ‘ADD’ rating with TP of Rs832 at 23x FY21E EPS. We expect KKC to deliver sales/EBITDA/PAT CAGR of 13%/14%/16% respectively over FY19-21E with average ROE of 20%+.
... Read more
25-May-19
Price @ Call: 742.01
Target: 841
ACCUMULATE
he company has guided for domestic revenue growth of 10-15% YoY for FY20. KKC expects good growth in HHP segment mainly driven by data center, commercial realty, manufacturing etc. KKC is seeing weak demand from exports markets amid uncertain global growth and volatile forex markets. We have modelled 10%/11% Revenue/PAT CAGR over next two years (FY19-21E). The stock is currently trading at 27/23x FY20/21E. We maintain our Accumulate rating on the stock with TP of Rs841 (26xFY21E).
... Read more
6-Mar-19
Price @ Call: 720
Target: 950
BUY
We are positive with a long-term view on the stock given its market leadership in the HHP and MHP segment, strong after-sales service & distribution, and its preparedness to take advantage of the upcoming CPCB4 emission norm change. Exports is still a bleak spot in the near term given the decline in demand for HP engines from its parent. But, we are upbeat on the long-term prospects of Exports as we expect capex cycle recovery in the key markets of Europe and Africa, post firming up of oil and base metal prices. We maintain a Buy rating on the stock with target price of INR950 (28x Dec’20 EPS of INR34).
... Read more
8-Feb-19
Price @ Call: 769.75
Target: 945
BUY

CUMMINSIND Share Price Target - Broker Reports - 2018

29-Nov-18
Price @ Call: 798.75
Target: 990
BUY
26-Nov-18
Price @ Call: 768.1
Target: 898
BUY
29-Oct-18
Price @ Call: 677.23
Target: 817
BUY
12-Oct-18
Price @ Call: 681.45
Target: 835
BUY
14-Aug-18
Price @ Call: 675.05
Target: 880
BUY
14-Aug-18
Price @ Call: 675.05
Target: 785
BUY
14-Aug-18
Price @ Call: 675.05
Target: 800
BUY
14-Aug-18
Price @ Call: 675.3
Target: 836
BUY
20-Jul-18
Price @ Call: 637.3
Target: 835
BUY
8-Jun-18
Price @ Call: 680.85
Target: 857
BUY
25-May-18
Price @ Call: 718
Target: 928
BUY
18-Apr-18
Price @ Call: 723
Target: 862
BUY
15-Mar-18
Price @ Call: 778.2
Target: 967
BUY
5-Feb-18
Price @ Call: 805.58
Target: 960
BUY
5-Feb-18
Price @ Call: 805.58
Target: 897
ACCUMULATE
3-Feb-18
Price @ Call: 828.18
Target: 1040
BUY
4-Jan-18
Price @ Call: 934
Target: 1150
BUY

CUMMINSIND Share Price Target - Broker Reports - 2017

19-Dec-17
Price @ Call: 856.03
Target: 1016
BUY
30-Oct-17
Price @ Call: 907.05
Target: 1018
ACCUMULATE
30-Oct-17
Price @ Call: 907.05
Target: 1150
BUY
11-Sep-17
Price @ Call: 915
Target: 1025
BUY
10-Aug-17
Price @ Call: 903.4
Target: 1006
NEUTRAL
3-Aug-17
Price @ Call: 950
Target: 1170
BUY
4-Aug-17
Price @ Call: 937
Target: 1025
BUY
15-Jun-17
Price @ Call: 921
Target: 950
NEUTRAL
22-May-17
Price @ Call: 930
Target: 997
NEUTRAL
22-May-17
Price @ Call: 931
Target: 1055
BUY
19-May-17
Price @ Call: 973
Target: 977
NEUTRAL
2-Feb-17
Price @ Call: 850
Target: 1005
BUY
2-Feb-17
Price @ Call: 902.8
Target: 1000
BUY
1-Feb-17
Price @ Call: 846.13
Target: 1100
BUY

CUMMINSIND Share Price Target - Broker Reports - 2016

26-May-16
Price @ Call: 808
Target: 960
BUY
27-May-16
Price @ Call: 789.75
Target: 1000
BUY
12-May-16
Price @ Call: 873
Target: 840
SELL
22-Nov-16
Price @ Call: 763
Target: 645
REDUCE
4-Nov-16
Price @ Call: 831
Target: 908
NEUTRAL
28-Oct-16
Price @ Call: 852
Target: 946
ACCUMULATE
8-Aug-16
Price @ Call: 875
Target: 1000
BUY
7-Jul-16
Price @ Call: 835.1
Target: 860
HOLD
Join FrontPage
FrontPage is India's favorite stock discussions community
Join 2,00,000 Indian traders and discuss trades, strategies, news & views on any stock.
  • CUMMINSIND Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3885.8
    Upside Target 2878.4
    Upside Target 1868.35
    Pivot860.95
    Downside Target 1850.9
    Downside Target 2843.5
    Downside Target 3833.45
  • CUMMINSIND Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3904.9
    Upside Target 2888.9
    Upside Target 1873.6
    Pivot857.6
    Downside Target 1842.3
    Downside Target 2826.3
    Downside Target 3811
  • CUMMINSIND Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,078.75
    Upside Target 2991.8
    Upside Target 1945.65
    Pivot858.7
    Downside Target 1812.55
    Downside Target 2725.6
    Downside Target 3679.45
  • CUMMINSIND Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3878.4
    Upside Target 2871.73
    Upside Target 1867.62
    Pivot860.95
    Downside Target 1854.28
    Downside Target 2850.17
    Downside Target 3843.5
  • CUMMINSIND Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3888.9
    Upside Target 2876.94
    Upside Target 1869.56
    Pivot857.6
    Downside Target 1845.64
    Downside Target 2838.26
    Downside Target 3826.3
  • CUMMINSIND Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3991.8
    Upside Target 2940.96
    Upside Target 1909.54
    Pivot858.7
    Downside Target 1807.86
    Downside Target 2776.44
    Downside Target 3725.6
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.
PrivacyTerms
FrontPage © 2020