Manufacturing News
October 25, 2026
October 25, 2026 · Statewide · Story 3 of 5
Cummins Gets Whipsawed by Its Own Rating Agency in Eight Days
Wall Street Zen upgraded Columbus-based Cummins from hold back to buy on Sunday, eight days after downgrading the stock from buy to hold on October 17. The reversal landed amid a wave of price-target cuts from Citigroup, Barclays, Truist, JPMorgan and Bank of America, and shares opened Friday at $517.64, below both the 50-day and 200-day moving averages. The rating swing is noise next to what's actually at stake inside the Columbus Engine Plant. Cummins took a $458 million write-down and fully exited the electrolyzer business in February after CEO Jennifer Rumsey said green hydrogen demand had dried up, and the Department of Energy has canceled hundreds of IRA-era grants in 2026, putting the policy ground under Cummins' $75 million DOE grant for BEV component conversion at the Columbus plant in question. Add Class 8 truck retail sales down 13.2 percent year over year, and Cummins' core engine business is leaning harder on data center demand through its Power Systems segment than on the on-highway work the plant was built around.
From the brief, October 25, 2026
- Navy's Crane Indiana Microreactor Brings Zero Manufacturing Jobs to the State
- KTR Corporation Plans $15 Million Expansion in Michigan City
- Cummins Gets Whipsawed by Its Own Rating Agency in Eight Days
- Audi's $4.2 Billion Georgia Plant Opens a Tariff-Exemption Window
- Hyundai Translead Adds 1,250 Jobs While Wabash National's Goshen Plant Sits Idle
Related
- Indiana Grid Capacity Tightens as Crane Lands a Microreactor and Kokomo Pitches a 1.5-Gigawatt Data Center
- AES Indiana Rate Increase Rehearing, Duke Energy's New Industrial Sites, and Amazon's $100 Million Greenwood Plant
- Amazon's Greenwood Robotics Plant and the AES Indiana Rate Increase Rehearing: What Indiana Manufacturers Need to Watch
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