BofA lifts Caterpillar PT on broadening turbine demand

Caterpillar

10/02/2026 12:16

** BofA Global Research raises PT on heavy machinery maker Caterpillar CAT.N to $825 from $735, maintains rating at "buy"

** New PT implies 11.2% upside from stock's last close

** BofA says co's turbine demand is now broadening beyond data centers, easing worries about potential overcapacity

     ** Also adds CAT's power-generation business is witnessing "eye-popping" growth

** Shares of the company marginally up 0.2% at about $744 premarket

** 15 of 30 brokerages rate the stock "buy" or higher, 13 "hold" and 2 "sell"; their median PT is $677- data compiled by LSEG

** In 2025, CAT rose ~57.9%

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))