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
Brokerage | New PT | Old PT | New PT upside from the stocks last close |
Truist | $582 | $507 | 19.6% |
Jefferies | $570 | $500 | 17.1% |
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