Caterpillar CAT stock retook its 200 day moving average on June 2, 2023.
Caterpillar Inc is a US-based global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company also provides financing and related services through its Financial Products segment. Caterpillar serves customers in various industries such as construction, mining, forestry, power generation, marine, oil and gas, and industrial.
Caterpillar price target raised at Tigress Financial
Ivan Feinseth, an analyst with Tigress Financial, maintained a Buy rating on Caterpillar’s stock and raised the price target for the company to $282 on May 31, 2023. In a research note, the analyst informs investors that ongoing capital equipment spending will continue to drive the creation of long-term shareholder value and that the company continues to benefit from strong trends in equipment demand and pricing. The company also stated that its price target represents a potential total return with dividends of close to 40% from current levels.