#1 - Caterpillar (NYSE:CAT)
Caterpillar Inc. (NYSE: CAT) stock is up approximately 42% in the last 12 months and about 31% in 2024. Investors haven’t been shy about front-running the impact that infrastructure dollars would have on the company’s revenue and earnings. And on September 30, Caterpillar received a bullish upgrade from Bank of America, which reiterated its Buy rating and raised its price target on CAT stock to $434.
Lower interest rates provide a compelling supply-demand story for Caterpillar. Simply put, it’s more cost-effective for businesses to finance Caterpillar’s heavy equipment, which dovetails with the increase in demand for infrastructure projects.
And this demand comes at a time when Caterpillar has launched its Dynamic Energy Transfer (DET) system. This can charge a machine’s battery while its operating, which is not only a sustainable technology solution but also results in more efficiency and productivity.
About Caterpillar
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
Read More - Current Price
- $387.90
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $339.94 (12.4% Downside)
