Truist, Jefferies lifts Caterpillar's PT on strong margins, steady demand

** Truist and Jefferies raises price target on Caterpillar CAT.N due to strong margin performance and expectations of continued demand despite market challenges

** Truist views co's $35 billion backlog as clear evidence of strong, sustained demand that supports long-term growth despite economic uncertainty

** Notes co is preparing for higher tariff costs and taking steps such as cost cuts, supply chain shifts and price changes to manage the impact, though some backlog orders may still be at risk

** Citi on Tuesday lifted co's PT to $570 from $540

** Shares of co marginally up by 0.1% at $487 premarket

** 14 of 28 brokerages rate stock "buy" or higher, 13 "hold" and 1 "sell"; their median PT is $445.27- data compiled by LSEG

** As of last close, stock has risen 34.2% YTD