On August 18, Caterpillar rose 3.03% in regular trading, trading at 882.65 USD/share, with turnover of $641 million. The stock continues to benefit from the afterglow of its blockbuster Q2 earnings report released earlier this month.

Caterpillar posted record Q2 results on August 4, with revenue surpassing $20 billion for the first time in a single quarter at $20.54 billion, up 24% year-over-year and well above the $19.3 billion consensus estimate. Adjusted EPS came in at $8.17, exceeding expectations of approximately $6.20 by over 30%. The company raised full-year guidance, projecting sales growth in the mid-teens to nearly 20% over the prior year. Key growth drivers include surging data center power equipment demand, a 50% spike in North American construction equipment sales, and diesel power equipment orders backlogged through 2028.

Following the results, multiple investment banks adjusted their outlooks, with UBS raising its target to $925, RBC to $897, and JPMorgan maintaining an Overweight rating with a $1,100 target. The average analyst price target stands at approximately $982, suggesting continued upside from current levels.

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