Caterpillar price target raised to $980 from $832 at Oppenheimer

Oppenheimer analyst Kristen Owen raised the firm’s price target on Caterpillar (CAT) to $980 from $832 and keeps an Outperform rating on the shares. Against a high bar coming into the Q1 print, the key to maintaining Caterpillar share momentum was positive estimate revisions, which the company delivered on both the short-term and the long-term, the firm says. Near term, all cylinders are firing, adds Oppenheimer.