Caterpillar gets PT hike from top-rated BofA analyst on data center bet

Caterpillar CAT.N down ~0.4%, retreating for 2nd day after hitting record high of $467.40 on Thurs

BofA Global Research keeps "buy"; hikes PT from $495 to $517, 2nd highest on Wall Street and ~11% higher to last close

CAT is entering next growth cycle from a stronger profit base than in past downturns, says analyst Michael Feniger

Adds CAT's solar turbines business becoming key given higher use to power data centers; adds infrastructure spending and aging equipment also driving recovery

Feniger top rated among 28 analysts covering industrial sector, based on their recommendation accuracy, per LSEG data

Wall St's avg rating is also "buy" on CAT and median PT is $445.27 -LSEG data

CAT now up ~27% YTD, 4th best Dow .DJI performer, and better than near 16% rise in S&P 500 industrials index .SPLRCI