Truist Lowers Caterpillar Price Target Amid Economic Concerns
Truist Securities has lowered its price target for Caterpillar (ISIN US1491231015) from USD 1,225 to USD 1,100, marking a 10.20 percent reduction. The adjustment came on October 5, 2026, while the firm maintained its Buy rating. Analyst Jamie Cook cited concerns over the sustainability of spending in power, data centers, and artificial intelligence, along with infrastructure challenges, higher interest rates, and rising diesel costs.
Despite the downgrade, Caterpillar reported strong second-quarter results, with revenue rising 24.00 percent year over year to USD 20.50 billion. The company also forecast continued sales growth across its primary segments for the third quarter, driven by higher sales volume and favorable pricing.
On October 5, 2026, Caterpillar’s stock closed at USD 848.14 on the NYSE, within its 52-week range of USD 483.55 to USD 1,073.46. The company’s market capitalization stood at USD 390.7 billion. On October 6, 2026, the stock was trading at EUR 756.80 at Lang & Schwarz, up 0.16 percent from the prior close.