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CUMMINSIND Share Price Target

Cummins India Ltd.
NSE: CUMMINSIND | BSE: 500480 | ISIN: INE298A01020 | Sector: Engineering

CUMMINSIND Rating

3.6/5 (13 Ratings)
CUMMINSIND Share Price *
554.75 +0 (0%)
* (quote may be delayed)

12 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.


You can also find CUMMINSIND share price target tomorrow or next week from CUMMINSIND discussion forum.

CUMMINSIND Share Price Forecast - Consensus
No. of reports in last year
12
No. of analysts
5
Average Consensus Forecast
727.75
Consensus Potential
20.59%

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

  • CUMMINSIND - Share Price Target Potential

    keyboard_arrow_down
    BrokerageTargetPotential
    Karvy Stock Broking545-1.79%
    Prabhudas Lilladher543-2.16%
    Motilal Oswal69520.18%
    Geojit Financial Services79229.96%
    YES Securities83233.32%
  • CUMMINSIND Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3577.53
    Upside Target 2567.02
    Upside Target 1560.88
    Pivot550.37
    Downside Target 1544.23
    Downside Target 2533.72
    Downside Target 3527.58
  • CUMMINSIND Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3579.87
    Upside Target 2570.68
    Upside Target 1553.82
    Pivot544.63
    Downside Target 1527.77
    Downside Target 2518.58
    Downside Target 3501.72
  • CUMMINSIND Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3739.83
    Upside Target 2696.32
    Upside Target 1635.43
    Pivot591.92
    Downside Target 1531.03
    Downside Target 2487.52
    Downside Target 3426.63
  • CUMMINSIND Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3567.02
    Upside Target 2560.66
    Upside Target 1556.73
    Pivot550.37
    Downside Target 1544.01
    Downside Target 2540.08
    Downside Target 3533.72
  • CUMMINSIND Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3570.68
    Upside Target 2560.73
    Upside Target 1554.58
    Pivot544.63
    Downside Target 1534.68
    Downside Target 2528.53
    Downside Target 3518.58
  • CUMMINSIND Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3696.32
    Upside Target 2656.44
    Upside Target 1631.8
    Pivot591.92
    Downside Target 1552.04
    Downside Target 2527.4
    Downside Target 3487.52
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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