Caterpillar's shares hit record high on profit beat, robust demand
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Caterpillar (CAT) PT Raised to $338 at TD Cowen
February 6, 2024 6:12 AM ESTTD Cowen analyst Matt Elkott raised the price target on Caterpillar (NYSE: CAT) to $338.00 (from $300.00) while maintaining a Outperform rating.
The analyst comments "We're fine-tuning our '24 and '25 EPS estimates to $22.50 and $22.65, from $21.40 and $22.40, respectively. Our PT changes from $300 to... More
Morgan Stanley on Caterpillar (CAT): 'We expect a positive stock reaction'
February 5, 2024 8:07 AM ESTMorgan Stanley analyst Angel Castillo reiterated an Equalweight rating and $270.00 price target on Caterpillar (NYSE: CAT)
The analyst comments "We expect a positive stock reaction to CAT's 4Q23 EPS beat and full year 2024 outlook and commentary that was in line with consensus but better than we think investors feared. CAT reported 4Q23 adjusted EPS of $5.23 versus MSe of $4.93 and consensus estimate of $4.79. Relative to our estimates, the beat was due to stronger Energy & Transportation adjusted operating income (+$233M), partly offset by softer Construction Industries adjusted operating income (-$85M) and... More
TD Cowen Remains Positive on Caterpillar (CAT) Following 'strong results' in Earnings Report
February 5, 2024 7:46 AM ESTTD Cowen analyst Matt Elkott reiterated an Outperform rating and $300.00 price target on Caterpillar (NYSE: CAT).
The analyst comments "Solid 4Q beat to consensus on EPS and margin. Order backlog declined 2% sequentially, better than the mid-single-digit decline we believed the Street had... More
Deutsche Bank on Caterpillar (CAT) Earnings Report: 'should bode well for share price performance today'
February 5, 2024 7:42 AM ESTDeutsche Bank analyst Nicole DeBlase reiterated a Hold rating and $259.00 price target on Caterpillar (NYSE: CAT)
The analyst comments "The 4Q23 beat was low-quality in nature (core segment results were in line with the Street), but dealer inventories came down more than expected... More
Goldman Sachs Positive on Caterpillar (CAT) Post Earnings
February 5, 2024 7:31 AM ESTGoldman Sachs analyst Jerry Revich reiterated a Buy rating and $274.00 price target on Caterpillar (NYSE: CAT).
The analyst comments "We come away from CAT 4Q results positive on structurally improving earnings power, as CAT delivered a sharp 4Q EPS beat while destocking... More
Caterpillar (CAT) stock rises 3% on earnings beat
February 5, 2024 6:46 AM ESTCaterpillar (NYSE: CAT) reported results for the fourth quarter that exceeded average analyst expectations.
The company reported an adjusted EPS of $5.23, up from $3.86 year-over-year, and above the consensus estimate of $4.76. Total revenue for the quarter was $17.07 billion, reflecting a 2.8% increase year-over-year, and somewhat around... More
