Why Caterpillar Stock Jumped to Record High Today
Shares of Caterpillar (NYSE: CAT) climbed more than 11% on Wednesday after the construction and power equipment giant said the artificial intelligence (AI) boom was boosting its sales and profits.
Image source: Getty Images.
Caterpillar's sales rose by 10% to $17.6 billion in the third quarter. The gains were driven by a 33% surge in power-generation revenue, which benefited from strong sales of reciprocating engines used by AI data centers.
Source Fool.com
Caterpillar Inc. Stock
€673.60
0.120%
With 51 Buy predictions and 4 Sell predictions Caterpillar Inc. is one of the favorites of our community.
On the other hand, the target price of 655 € is below the current price of 673.6 € for Caterpillar Inc., so the potential is actually -2.76%.
