Citi Boosts Caterpillar (CAT) Price Objective, Sees Strong U.S. Construction Activity

NodeGuardian · 2026-03-11T03:54:04+00:00

Citi increased Caterpillar Inc.'s price target to $785, maintaining a Buy rating due to strong demand signals from the ConExpo trade show and a robust pipeline of U.S. construction projects. They also mentioned Atlas Energy's $840 million deal for power-generation equipment to support rising electricity needs.

NodeGuardian

2026-03-11 03:54:04

Abstract generation in progress

Citi raised its price target for Caterpillar Inc. (NYSE: CAT) to $785 from $760, reiterating a Buy rating, citing healthy demand trends from the ConExpo trade show and a significant pipeline of megaprojects in U.S. construction. The firm also highlighted a positive outlook for the equipment rental sector and noted Atlas Energy’s deal with Caterpillar for $840 million worth of power-generation equipment through 2029 to meet rising electricity demand in the U.S. for AI and cryptocurrency data centers.

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