03:12 PM EDT, 05/16/2024 (MT Newswires) -- Cummins (CMI) is raising how much it hopes to generate in sales by 2030, Chief Executive Jennifer Rumsey said Thursday.

The company is now targeting 2030 revenue of $43 billion to $48 billion, up $2 billion from the previous forecast of $41 billion to $46 billion, she said during the company's investor day presentation, according to a Capital IQ transcript.

Rumsey attributed the higher forecast to Cummins' "strengthening position" and said it was committed to an EBITDA in the range of 17% to 18%.

Cummins shares were down 1.1% in recent trading.

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