Caterpillar stock gets Street-high $1,165 target from Baird's Mig Dobre
Updated
Updated · Barron's · May 1
Caterpillar stock gets Street-high $1,165 target from Baird's Mig Dobre
13 articles · Updated · Barron's · May 1
The call followed first-quarter earnings of $5.54 a share on $17.4 billion in sales, beating forecasts, as shares surged nearly 10% to a record above $890.
Caterpillar also raised growth guidance, forecasting low double-digit 2026 sales growth and 6% to 9% annual sales growth through 2030, citing resilient markets and strong execution.
CEO Joe Creed said power generation sales rose 48% on data-centre demand, while Morgan Stanley upgraded the stock to Hold from Sell and Resource Industries posted its strongest order intake since 2012.
Is Caterpillar's solution to the AI power crisis fueling a new climate problem?
As AI drives a new resource race, is Caterpillar's machinery the new geopolitical kingmaker?