Wells Fargo Lifts PT on Caterpillar Inc. (CAT) And Raises 2026-2028 EPS

Caterpillar Inc. (NYSE:CAT) is one of the best booming stocks to buy according to hedge funds. On April 21, Wells Fargo lifted the price target on Caterpillar Inc. (NYSE:CAT) to $960 from $870 while maintaining an Overweight rating on the shares. The firm also lifted 2026-2028 EPS as the new Solar Turbines project adds across data centers and gas compression enters its forecast set, while increasing lead times and pricing support out-year Power & Energy revenue visibility.

Caterpillar Inc. (CAT) Will Benefit From Data Center Spending, Says Jim Cramer

Caterpillar Inc. (NYSE:CAT) also received a rating update from Truist on April 20, with the firm lifting the price target on the stock to $920 from $786 while reaffirming a Buy rating on the shares. The rating update came as part of a broader research note previewing Q1 Results in Machinery, Infrastructure Services, and Multi-Industry names, with the firm stating that after a three-year period of contraction, March U.S. Manufacturing PMI was 52.7, following positive readings in January and February. Truist is seeing a positive setup for Q1 prints across the Industrials coverage.

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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