BUZZ-UBS lifts Caterpillar PT on strong energy-led demand

Caterpillar Inc.

Caterpillar Inc.

CAT

0.00

** UBS lifts price target on heavy machinery maker Caterpillar CAT.N to $900 from $677, maintains rating at "neutral"

** New PT shows an upside of 4% from the stock's last close

** Shares up 2.4% at $886 in early trading

** Says strong demand in power & energy is driving co's backlog growth, with improving trends in construction and resource industries

** UBS sees limited upside as strong backlog growth and already elevated long-term earnings expectations leave less room for additional surprises, even as U.S. power generation demand remains robust

** 16 of 30 brokerages rate the stock "buy" or higher, 13 "hold" and one "sell"; their median PT is $915- data compiled by LSEG

** Including session's moves shares up, 54.9% YTD


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