Truist Remains Bullish on Caterpillar Inc. (CAT)

Caterpillar Inc. (NYSE:CAT) is one of the best stocks on the rise to invest in. Truist lifted the price target on Caterpillar Inc. (NYSE:CAT) to $1,218 from $1,043 on July 2 and maintained a Buy rating on the shares. The firm adjusted estimates and price targets in the machinery, infrastructure services, and multi-industry group as part of a Q2 preview. It further told investors in a research note that it sees a positive setup for fiscal Q2 earnings reports across the sector, and added that demand trends remain strong across the group, with continued support from secular growth tailwinds in power, data center, aerospace and defense, and infrastructure.

Caterpillar Inc. (NYSE:CAT) also received a rating update from Wells Fargo on June 23. The firm lifted the price target on the stock to $1,155 from $1,050 and maintained an Overweight rating on the shares, telling investors in a research note that the firm’s data center and oil & gas checks indicate Caterpillar prime reciprocating engines and Solar Turbines lead times are into 2029.

Caterpillar Inc. (NYSE:CAT) is involved in the business of industrial gas turbines, manufacturing construction and mining equipment, off-highway diesel and natural gas engines, and diesel-electric locomotives. The company’s operations are divided into the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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