Caterpillar, Inc. (CAT) Analyst Ratings & Price Targets

Caterpillar, Inc.

CAT · NYSE

Analyst Consensus

Hold

23 analysts

0 Bearish3 Neutral1 Bullish

$624

Current

$722

Low

$820

Average

$722

High

Average target implies +31.42% versus the current price.

Analyst Ratings Synthesis

The supplied consensus is Hold across 23 analysts, but its target figures are internally inconsistent: the stated low is $1,009, the mean is $950 and the high is $1,009. Named target actions offer a more coherent, though still wide, spread: RBC Capital has the lowest cited target at $722, Oppenheimer's Kristen Owen is at $900, and Evercore ISI's David Raso is highest at $1,045. RBC cut its target on October 26 while maintaining Sector Perform; Oppenheimer and Evercore also lowered targets while retaining Outperform, but the snippets give no dates for those revisions. The substantive disagreement is whether strong volume, pricing, backlog and data-center demand justify bullish ratings, or whether durability concerns warrant a more cautious stance.

Symbol: CAT
Type: Stock
Sector: Industrials
Industry: Construction/Ag Equipment/Trucks
Exchange: NYSE

For more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of $67.6 billion, Caterpillar Inc. is shaping the future as the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company's primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers' toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team.

Key Issues

Bullish view

Third-quarter revenue rose 17%, and Caterpillar beat earnings and revenue estimates as higher volume and pricing lifted sales. The reported $78.1 billion backlog supports the case for substantial demand visibility.

Bearish view

The stock fell sharply on the earnings day despite the beat, and FY2025 net income declined to $8.9 billion from $10.8 billion in FY2024 even as revenue increased. The evidence does not establish that recent growth and margins will persist.

Analyst Consensus

See all

Hold

23 analysts

0 Bearish3 Neutral1 Bullish

$624

Current

$722

Low

$820

Average

$722

High

Average target implies +31.42% versus the current price.

Earnings History

BeatMissNo estimate

Rating Actions

4 firms captured

Firm	Analyst	Rating	Price Target	Upside	Date	Source
RBC Capital	—	Sector Perform Maintained rating; lowered price target	$722from $897	+15.7%	Oct 26, 2026	Open the report this row came from
Oppenheimer	—	Outperform Lowered price target	$1,009from $1,118	+61.7%	Oct 14, 2026	Open the report this row came from
Bernstein	—	Hold Sticks with	—	—	Sep 2, 2026	Open the report this row came from
Baird	Mircea Dobre	Neutral Downgrade and price-target reduction	$900from $1,200	+44.2%	Jul 27, 2026	Open the report this row came from

Rating actions are extracted from published reporting. Each row links to its source.

Caterpillar, Inc.

Analyst Consensus

Analyst Ratings Synthesis

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