Caterpillar Segments Seen Shifting Into Growth Mode in 2026, BofA Says

MT Newswires Live
08/06

Caterpillar's (CAT) three segments are expected to shift into growth mode in 2026 as the company absorbs "peak pain" from H2 of 2024 through 2025, BofA Securities said in a note Wednesday.

The firm called Caterpillar's Q2 "passable," with adjusted earnings per share of $4.72 coming in slightly below the $4.88 consensus, weighed by a larger-than-expected tariff headwind and continued pricing pressure.

But BofA noted that many forward-looking key performance indicators are encouraging, with backlog rising $2.5 billion to a record $37.5 billion and dealer machine inventories down $400 million.

Caterpillar said it expects net incremental tariffs of $1.3 billion to $1.5 billion in 2025, including some mitigation measures and cost controls. For Q3, it estimated a $400 million to $500 million tariff hit.

"While the FY25 guide implies no upgrades to consensus this year, we see an exit rate into 2026 that is positive," according to the note.

BofA raised its price objective on Caterpillar to $495 from $460 and maintained its buy rating.

Price: 432.78, Change: -1.45, Percent Change: -0.33

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10