Caterpillar price target raised to $569 from $408 at DA Davidson

DA Davidson raised the firm’s price target on Caterpillar (CAT) to $569 from $408 and keeps a Neutral rating on the shares after its Q3 earnings beat. The management’s tone was more-positive than it has been in quite some time, thanks to strong E&T – Energy & Transportation – segment demand from Datacenters, while Construction and Resource are “not to be counted out either”, the analyst tells investors in a research note. Excluding tariff impacts, margins appear to be poised to end up at the top end of Caterpillar’s target range, the firm added.