Here's Why Caterpillar Stock Is Outperforming Today
Shares of Caterpillar (NYSE: CAT) were up 4.5% by 11 a.m. on Tuesday. The move comes after the company's mixed earnings report. Sales declined, but Caterpillar is wringing profitability out of its operations, and investors have reason to believe that the company has structurally higher margins now.
The company's end markets are slowing, and Wall Street expects its full-year revenue to decline by 1.5%. Moreover, Caterpillar slightly lowered its sales expectations. Management now expects slightly lower sales in 2024 than in 2023, compared to previous guidance for revenue broadly similar to 2023.
However, management said its 2024 adjusted operating profit margin would be above the high end of its target range, and that its full-year adjusted operating profit would be higher than previously anticipated.
Source Fool.com
Caterpillar Inc. Stock
We see a rather positive sentiment for Caterpillar Inc. with 16 Buy predictions and 2 Sell predictions.
As a result the target price of 332 € shows a slightly positive potential of 6.58% compared to the current price of 311.5 € for Caterpillar Inc..
