Overview
- Caterpillar reports third-quarter results pre-market Wednesday, offering a fresh read on the data-center growth thesis.
- Shares are up more than 45% year to date and lead the Dow, outpacing Nvidia, the S&P 500, and the industrials sector.
- Morgan Stanley’s Angel Castillo says the stock is “priced for perfection,” with an average analyst target near $497 versus Monday’s $527 close.
- Bank of America estimates Energy & Transportation at roughly 40% of sales, citing faster growth in data-center power generation versus other segments.
- RBC began coverage on Oct. 22 with Sector Perform and a $560 target, while Jim Cramer cautioned on profit-taking even as he still sees upside.