CAT Keeps Accelerating: Analyst Upgrades to Buy Despite High Valuation
Caterpillar (CAT) has surged 49% since the analyst's previous coverage, outperforming the benchmark.
The company's top and bottom-line growth acceleration is impressive, driven by multi-year tailwinds in power generation and data center markets.
The analyst believes CAT's quality and growth justify its valuation, despite trading at a 34x forward P/E, a 58% premium to the sector median.