UBS has maintained a Sell rating on Cummins India, setting a target price of ₹2,700, amid concerns that the company’s earnings upcycle may have already peaked.
While the brokerage noted that exports remained stable sequentially, the topline performance fell short of expectations. UBS believes this miss in revenue growth signals a potential tapering of the strong earnings trajectory seen in recent quarters.
UBS remains cautious on the stock, suggesting that despite stability in exports, the best phase of profitability may be behind the company.
Disclaimer: The views expressed are those of the brokerage firm and do not constitute investment advice by Business Upturn.
