Bernstein raised the firm’s price target on Caterpillar (CAT) to $879 from $769 and keeps a Market Perform rating on the shares. The firm notes Caterpillar reported Q1 EPS that was 20% ahead of expectations. The most important development was the large engine capacity expansion announcement and the upgrade to the long-term growth algo, Bernstein adds.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAT:
- Caterpillar price target raised to $980 from $832 at Oppenheimer
- Caterpillar price target raised to $1,125 from $860 at JPMorgan
- Caterpillar price target raised to $800 from $700 at Barclays
- Angel Castillo Lifts Caterpillar Price Target to $915 but Maintains Hold on Balanced Risk‑Reward and Full Valuation
- Caterpillar upgraded to Equal Weight from Underweight at Morgan Stanley