Melius Research upgraded Caterpillar (CAT) to Buy from Hold with a $500 price target The firm upgraded the shares after increasing 2027 estimates “materially” to reflect an expected datacenter driven capacity increase in engines. Caterpillar’s role in the “power explosion” surrounding the artificial intelligence buildout is bigger than Melius thought a few months ago, the analyst tells investors in a research note. The firm says the company’s opportunity includes some baseload power and more value-added solutions in a strained grid.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAT:
- Caterpillar’s Hold Rating Reflects Cautious Market Outlook Amid Limited Growth and Competitive Pressures
- BlackRock Stock (BLK) Gets a Boost from Its New Texas ETF
- Caterpillar price target raised to $420 from $370 at Citi
- Caterpillar price target raised to $414 from $396 at Truist
- Caterpillar price target raised to $422 from $395 at Baird