Movement Alert|Caterpillar Rises 3.24% in Regular Trading, Q2 Record Earnings Momentum Sustained as Investment Banks Maintain Bullish Outlook

Market Focus08-12 21:41

On August 12, Caterpillar rose 3.24% in regular trading, trading at $858.28/share, with turnover of $188 million. The stock continued to rally on the lingering momentum from its record-breaking Q2 earnings report, compounded by sustained bullish sentiment from multiple Wall Street institutions.

On the fundamental side, Caterpillar reported Q2 revenue of $20.54 billion, surpassing the $20 billion mark for the first time in company history, representing a 24% year-over-year increase. Adjusted EPS came in at $8.17, exceeding consensus estimates by over 30%. AI data center construction drove construction equipment sales up 35%, while power and energy segment revenue grew 17%. Diesel-powered equipment order backlog now extends into 2028. The company also raised its full-year guidance.

On the analyst front, Evercore ISI adjusted its target price to $1,045 while maintaining an Outperform rating. JPMorgan, UBS, and RBC Capital also raised their targets post-earnings, with the consensus mean target at approximately $982 and an average Overweight rating.

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