Caterpillar price target raised to $1,043 from $920 at Truist

Truist analyst Jamie Cook raised the firm’s price target on Caterpillar (CAT) to $1,043 from $920 and keeps a Buy rating on the shares after its Q1 earnings beat. For 2026, Caterpillar now expects sales and revenues to grow low double digit y/y, up from the prior guidance of growth at the high end of its 5%-7% long-term target range, the analyst tells investors in a research note. Truist adds it continues to believe the market underappreciates Caterpillar’s earnings power and improved visibility in earnings.