Caterpillar price target raised to $507 from $414 at Truist

Truist raised the firm’s price target on Caterpillar (CAT) to $507 from $414 and keeps a Buy rating on the shares. Operationally, Caterpillar reported strong results both on sales and segment profit while withstanding tariff costs of about $350M, which came in at the high end of management expectations, the analyst tells investors in a research note. Dealer inventories continue to be properly managed versus concerns that a large destock was on the come, the firm added.