Caterpillar Stock Climbs Despite Truist’s Lowered Price Target
Caterpillar stock (CAT) gained 2.12 percent on October 6, 2026, reaching USD 866.11 on the NYSE. The rise came despite Truist Securities lowering its price target from USD 1,225 to USD 1,100, while maintaining a Buy rating. Analyst Jamie Cook cited a constructive third-quarter setup but warned of risks from higher interest rates, rising input costs, and infrastructure delays.
The move follows Caterpillar’s strong second-quarter performance, with revenue hitting USD 20.54 billion, up 24 percent year-over-year. Adjusted profit per share surged 73.09 percent to USD 8.17. However, analysts note that sustaining this growth will be a challenge in the next earnings report.
A consensus of 28 analysts, as listed on Investing.com, shows 15 Buy ratings, 11 Holds, and 2 Sells, with an average 12-month target of USD 970.80. The stock remains below its 52-week high of USD 1,073.46 but well above its low of USD 483.55, with a market capitalization of USD 399 billion.