By Sheena Lee
Caterpillar (CAT) may not be the most glamorous of companies, but its performance has been impressive, capped by stellar fourth quarter earnings. The heavyweight equipment maker?s cash flow rose to an all-time record, helped by strong demand in markets like China, Latin America and Australia. Caterpillar?s stock price has almost doubled over the last year, yet analysts think it still has room to move higher.
The median price based on the the 14 most recent targets tracked by Alacra Pulse is $116.25, increasing from $95 in our November prognosis and 16% higher than Wednesday?s closing price of $100.02. The mean target has risen to $112.75 from $93.53. Out of the 14 analysts, 11 have a Buy rating and three have a Neutral rating.
Current 12-month price targets of selected sell-side and independent analysts. Click image to enlarge.
(Click to enlarge)
The most bullish is analyst Robert McCarthy
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