Bernstein raises Caterpillar's PT on strong demand

Caterpillar

09/04/2026 12:26

** Bernstein raises Caterpillar's CAT.N price target to $769 from $678

** New PT represents a 0.3% downside on stock's last close

** Brokerage says the shift in construction project mix favors earthmoving equipment, which is CAT’s core competency

** As industry inventories have fallen, co will see improving pricing power - Bernstein

** 15 of 30 brokerages rate the stock "buy" or higher, 13 "hold" and two "sell"; their median price target is $769 - LSEG data

** As of last close, shares up about 34.7% YTD

 (Reporting by Parth Chandna)

 ((Parth.Chandna@thomsonreuters.com;))