Is Caterpillar Stock Going to $399? 1 Wall Street Analyst Thinks So
's (NYSE: CAT) recent second-quarter earnings inspired a Truist analyst to raise the company's price target to $399 from $390 while maintaining a buy rating on the stock. The price target implies a 22% upside for the stock. However, as you might expect from a cyclical stock, there's no agreement on Wall Street with BofA lowering its price target to $376, and while Baird raised its price target to a lowly $264, it maintained an underperform rating on the stock.
According to thefly.com, the analyst believes the second quarter's margin performance demonstrated Caterpillar's ability to overcome potential weakness in its construction end markets.
The assessment is good because Caterpillar lowered its full-year expectations for overall sales. Jim Umpleby said, "We now anticipate slightly lower construction industries sales to users for the full year 2024 than we did previously" in North America.
Source Fool.com
Caterpillar Inc. Aktie
Einige Buy-Einschätzungen geben Caterpillar Inc. den Vorteil gegenüber Sell-Einschätzungen.
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