Street View: Caterpillar's tariff pressures to ease in late 2026
** Caterpillar CAT.N warned on Tuesday U.S. tariffs would pose significant challenges in the second half of the year and cost the construction equipment maker up to $1.5 billion in 2025
** Median PT of 27 brokerages covering the stock is $395, with a "buy" avg rating, as per LSEG data
DEMAND MIGHT OFFSET PRICING CHALLENGES
** Bernstein ("market perform," PT: $447) says "we lean incrementally positive after these results, because at the end of the day, stronger demand tends to solve the pricing problem"
** Truist Securities ("buy," PT: $507) says CAT's portfolio continues to be supported by secular tailwinds in E&T (energy & transportation), "with incremental capacity coming online as we exit 2026 that should accelerate top line growth"
** Citigroup ("buy," PT: $500) says tariff impacts should continue to be a meaningful headwind in 2H25 and bleed a bit into 1H26; expect these headwinds to abate in 2H26
** Barclays ("equal weight," PT: $383) says "Caterpillar's 2025 results are a byproduct of a trade war that's dented earnings on what's been a very resilient base otherwise"
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