Caterpillar Inc. (NYSE:CAT) is one of the Best Big Company Stocks to Buy Right Now. On June 2, UBS analyst Steven Fisher lifted its price objective on the company’s stock to $900 from $677 and maintained a “Neutral” rating on the shares. As per the analyst, Caterpillar Inc. (NYSE:CAT) remains well-placed to benefit from the robust demand in prime power generation, construction, mining, and oil and gas markets. This will help earnings growth through 2027-2029.
As per the firm, the US prime power generation opportunities are expected to remain strong until either the grid investment accelerates significantly or the large turbine production capacity increases. That being said, the firm opines that, post its Q1 beat, a significantly larger backlog, and sharply higher consensus earnings expectations, most of the upside seems to be already factored into the stock’s valuation. This limits the potential for further significant positive surprises.
Caterpillar Inc. (NYSE:CAT) is engaged in providing construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.
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