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Caterpillar (CAT) Stock Forecast, Price Target & Predictions

OverviewRevenueOwnershipFinancialsChartTranscripts

CAT Stock Forecast

Caterpillar stock forecast is as follows: an average price target of $392.50 (represents a 8.92% upside from CAT’s last price of $360.37) and a rating consensus of 'Buy', based on 18 wall street analysts offering a 1-year stock forecast.

CAT Price Target

The average price target for Caterpillar (CAT) is $392.50 based on 1-year price targets from 18 Wall Street analysts in the past 3 months, with a price target range of $454.00 to $332.00. This represents a potential 8.92% upside from CAT's last price of $360.37.

CAT Analyst Ratings

Buy

According to 18 Wall Street analysts, Caterpillar's rating consensus is 'Buy'. The analyst rating breakdown for CAT stock is 0 'Strong Buy' (0.00%), 12 'Buy' (66.67%), 4 'Hold' (22.22%), 2 'Sell' (11.11%), and 0 'Strong Sell' (0.00%).

Caterpillar Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Oct 30, 2024Jamie CookTruist Financial$454.00$379.2419.71%25.98%
Oct 14, 2024Angel CastilloMorgan Stanley$332.00$402.02-17.42%-7.87%
Aug 07, 2024Michael FenigerBank of America Securities$376.00$327.6414.76%4.34%
Aug 07, 2024Jamie CookTruist Financial$399.00$330.1020.87%10.72%
Aug 06, 2024Jerry RevichGoldman Sachs$408.00$326.4424.98%13.22%
May 07, 2024Ivan FeinsethTigress Financial$345.00$345.00--4.27%
Apr 30, 2024Helen FangHSBC$360.00$349.802.92%-0.10%
Mar 14, 2024Jamie CookTruist Financial$390.00$342.9513.72%8.22%
Feb 05, 2024Tami ZakariaJ.P. Morgan$320.00$315.091.56%-11.20%
Dec 29, 2023Stanley ElliottStifel Nicolaus$293.00$296.88-1.31%-18.69%
Oct 31, 2023Stanley ElliottStifel Nicolaus$300.00$242.1623.89%-16.75%
Feb 06, 2023Citigroup$260.00$247.764.94%-27.85%
Feb 01, 2023Wells Fargo$240.00$248.73-3.51%-33.40%
Jan 10, 2023Wells Fargo$228.00$248.61-8.29%-36.73%
Dec 16, 2022Cowen CowenCowen & Co.$264.00$232.1913.70%-26.74%
Dec 14, 2022Morgan Stanley$190.00$237.82-20.11%-47.28%
Oct 31, 2022Steven FisherUBS$230.00$219.344.86%-36.18%
Oct 27, 2022Mircea DobreRobert W. Baird$242.00$212.1414.08%-32.85%
Sep 30, 2022Tigress Financial$266.00$166.7259.54%-26.19%
Aug 15, 2022Jamie CookCredit Suisse$236.00$196.8419.89%-34.51%
Aug 03, 2022UBS$225.00$183.8222.40%-37.56%
Aug 03, 2022Wells Fargo$205.00$183.5111.71%-43.11%
Jul 18, 2022Morgan Stanley$142.00$176.41-19.51%-60.60%
Jul 13, 2022Deutsche Bank$227.00$173.9830.47%-37.01%
Jul 07, 2022Cowen & Co.$225.00$179.6125.27%-37.56%
Jun 23, 2022Morgan Stanley$161.00$187.83-14.28%-55.32%
May 20, 2022Ivan FeinsethTigress Financial$282.00$195.6344.15%-21.75%
May 03, 2022John EadeArgus Research$235.00$212.0710.81%-34.79%
May 01, 2022Mircea DobreRobert W. Baird$280.00$210.5432.99%-22.30%
Apr 30, 2022Nicole DeblaseDeutsche Bank$240.00$210.5413.99%-33.40%
Apr 29, 2022Wells Fargo$230.00$210.979.02%-36.18%
Apr 19, 2022Nicole DeblaseDeutsche Bank$250.00$229.928.73%-30.63%
Apr 11, 2022Steven FisherUBS$250.00$216.0515.71%-30.63%
Mar 16, 2022Stephen VolkmannJefferies$260.00$216.0820.33%-27.85%
Mar 14, 2022Seth WeberWells Fargo$231.00$215.447.22%-35.90%
Feb 21, 2022David RasoEvercore ISI$255.00$191.9532.85%-29.24%
Feb 06, 2022Ivan FeinsethTigress Financial$278.00$198.4140.11%-22.86%
Jan 18, 2022Mircea DobreRobert W. Baird$290.00$228.7626.77%-19.53%
Jan 13, 2022Timothy TheinCitigroup$230.00$225.901.81%-36.18%
Jan 13, 2022Adam SeidenBarclays$225.00$225.90-0.40%-37.56%
Dec 22, 2021Chad DillardBernstein$240.00$201.1719.30%-33.40%
Dec 09, 2021Courtney YakavonisMorgan Stanley$164.00$203.14-19.27%-54.49%
Aug 06, 2021Joel TissBMO Capital$230.00$206.2011.54%-36.18%
Aug 02, 2021Greg BadishkanianWolfe Research$265.00$203.0530.51%-26.46%
May 27, 2021Jerry RevichGoldman Sachs$264.00$237.5211.15%-26.74%
May 03, 2021Stanley ElliottStifel Nicolaus$245.00$224.629.07%-32.01%

The latest Caterpillar stock forecast, released on Oct 30, 2024 by Jamie Cook from Truist Financial, set a price target of $454.00, which represents a 19.71% increase from the stock price at the time of the forecast ($379.24), and a 25.98% increase from CAT last price ($360.37).

Caterpillar Price Target by Period

1M3M12M
# Anlaysts-210
Avg Price Target-$393.00$367.70
Last Closing Price$360.37$360.37$360.37
Upside/Downside-100.00%9.05%2.03%

In the current month, the average price target of Caterpillar stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Caterpillar's last price of $360.37. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Oct 31, 2024OppenheimerPerformPerformHold
Oct 14, 2024Morgan StanleyEqual-WeightUnderweightDowngrade
Oct 09, 2024CitigroupBuyBuyHold
Oct 02, 2024JefferiesBuyBuyHold
Sep 24, 2024OTR GlobalMixedMixedHold
Sep 23, 2024Bank of America SecuritiesBuyBuyHold
Aug 07, 2024Bank of America SecuritiesBuyBuyHold
Aug 07, 2024BarclaysEqual-WeightEqual-WeightHold
Aug 06, 2024Goldman SachsBuyBuyHold
Jun 27, 2024Raymond JamesMarket PerformInitialise
Jun 26, 2024CitigroupNeutralBuyInitialise
May 07, 2024Tigress FinancialBuyBuyHold
Apr 30, 2024HSBCHoldHoldHold
Apr 15, 2024Morgan StanleyEqual-WeightEqual-WeightHold
Feb 05, 2024Cowen & Co.OutperformOutperformHold
Feb 05, 2024Tigress FinancialBuyBuyHold
Feb 05, 2024Goldman SachsBuyBuyHold
Dec 29, 2023Goldman SachsBuyBuyHold
Oct 31, 2023Cowen & Co.OutperformOutperformHold
Oct 31, 2023CitigroupNeutralNeutralHold
Oct 31, 2023Goldman SachsBuyBuyHold
Oct 27, 2023CFRAHoldBuyUpgrade
Jun 01, 2023Tigress FinancialBuyBuyHold
Apr 28, 2023CFRAHoldUpgrade
Mar 11, 2023UBSSellReduceDowngrade
Mar 10, 2023UBSBuySellDowngrade
Feb 13, 2023BarclaysEqual-WeightNeutralDowngrade
Feb 06, 2023CitigroupNeutralNeutralHold
Feb 01, 2023Wells FargoEqual-WeightEqual-WeightHold
Feb 01, 2023Credit SuisseOutperformOutperformHold
Feb 01, 2023BarclaysEqual-WeightEqual-WeightHold
Jan 13, 2023Bank of America SecuritiesNeutralBuyUpgrade
Jan 10, 2023Wells FargoEqual-WeightEqual-WeightHold
Dec 14, 2022Morgan StanleyUnderweightUnderweightHold
Oct 13, 2022Deutsche BankBuyBuyHold
Oct 06, 2022New StreetOverweightOverweightHold
Sep 30, 2022Tigress FinancialBuyBuyHold
Sep 28, 2022CitigroupBuyBuyHold
Sep 28, 2022CitigroupNeutralNeutralHold
Aug 03, 2022UBSBuyBuyHold
Aug 03, 2022Credit SuisseOutperformOutperformHold
Aug 03, 2022Wells FargoEqual-WeightEqual-WeightHold
Jul 18, 2022Morgan StanleyUnderweightUnderweightHold
Jul 13, 2022Deutsche BankBuyBuyHold
Jul 07, 2022CitigroupNeutralNeutralHold
Jul 07, 2022Cowen & Co.OutperformOutperformHold
Jun 23, 2022Morgan StanleyUnderweightUnderweightHold
Jun 18, 2022Bank of America SecuritiesNeutralNeutralHold
May 20, 2022Tigress FinancialBuyBuyHold
May 18, 2022Goldman SachsBuyBuyHold
Apr 29, 2022Credit SuisseOutperformOutperformHold
Apr 19, 2022Deutsche BankBuyBuyHold
Apr 11, 2022UBSBuyBuyHold
Mar 16, 2022JefferiesBuyUpgrade
Feb 06, 2022Tigress FinancialBuyBuyHold
Jan 17, 2022UBSBuyBuyHold
Dec 27, 2021BernsteinOutperformUpgrade
Apr 13, 2021Wolfe ResearchOutperformInitialise
Oct 18, 2020Wells FargoOverweightUpgrade

Caterpillar's last stock rating was published by Oppenheimer on Oct 31, 2024. The company gave CAT a "Perform" rating, the same as its previous rate.

Caterpillar Financial Forecast

Caterpillar Revenue Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
Revenue------------$17.07B$16.81B-$15.86B$16.60B$14.99B$14.25B$13.59B$13.80B$12.40B$12.89B$11.89B$11.23B$9.88B$10.00B$10.63B$13.14B$12.76B
Avg Forecast$17.60B$16.90B$17.09B$15.75B$16.98B$16.35B$16.58B$15.53B$16.64B$16.37B$16.91B$16.05B$17.09B$16.57B$16.46B$15.10B$15.82B$14.36B$14.28B$13.25B$13.20B$12.56B$12.51B$10.94B$11.19B$9.73B$9.33B$10.77B$13.35B$13.40B
High Forecast$18.21B$17.49B$17.69B$16.30B$17.57B$16.92B$17.16B$15.73B$16.81B$16.39B$16.91B$16.08B$17.58B$17.11B$17.04B$15.63B$16.37B$14.36B$14.28B$13.25B$13.20B$12.56B$12.51B$10.94B$11.19B$9.73B$9.33B$10.77B$13.35B$13.40B
Low Forecast$16.85B$16.18B$16.36B$15.08B$16.25B$15.65B$15.87B$15.35B$16.43B$16.35B$16.91B$16.03B$16.68B$15.69B$15.76B$14.45B$15.15B$14.36B$14.28B$13.25B$13.20B$12.56B$12.51B$10.94B$11.19B$9.73B$9.33B$10.77B$13.35B$13.40B
# Analysts33334446947491689127781388913889127
Surprise %------------1.00%1.01%-1.05%1.05%1.04%1.00%1.03%1.05%0.99%1.03%1.09%1.00%1.02%1.07%0.99%0.98%0.95%

Caterpillar's average Quarter revenue forecast for Mar 24 based on 4 analysts is $16.05B, with a low forecast of $16.03B, and a high forecast of $16.08B. CAT's average Quarter revenue forecast represents a -5.95% decrease compared to the company's last Quarter revenue of $17.07B (Dec 23).

Caterpillar EBITDA Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts33334446947491689127781388913889127
EBITDA------------$3.68B$3.45B-$3.29B$3.70B$3.22B$2.76B$2.67B$3.25B$2.50B$2.59B$2.73B$1.69B$1.58B$1.43B$2.24B$2.13B$2.76B
Avg Forecast$3.58B$3.44B$3.48B$3.20B$3.45B$3.33B$3.37B$3.16B$3.39B$3.33B$3.44B$2.88B$3.48B$3.37B$3.35B$2.62B$2.89B$2.96B$2.94B$2.38B$2.72B$2.59B$2.58B$1.57B$2.30B$2.00B$1.92B$2.36B$2.75B$2.76B
High Forecast$3.70B$3.56B$3.60B$3.31B$3.57B$3.44B$3.49B$3.20B$3.42B$3.33B$3.44B$3.46B$3.57B$3.48B$3.46B$3.15B$3.47B$2.96B$2.94B$2.86B$2.72B$2.59B$2.58B$1.88B$2.30B$2.00B$1.92B$2.84B$2.75B$2.76B
Low Forecast$3.43B$3.29B$3.33B$3.07B$3.31B$3.18B$3.23B$3.12B$3.34B$3.32B$3.44B$2.31B$3.39B$3.19B$3.21B$2.10B$2.31B$2.96B$2.94B$1.91B$2.72B$2.59B$2.58B$1.25B$2.30B$2.00B$1.92B$1.89B$2.75B$2.76B
Surprise %------------1.06%1.02%-1.26%1.28%1.09%0.94%1.12%1.19%0.97%1.01%1.75%0.74%0.79%0.74%0.95%0.77%1.00%

4 analysts predict CAT's average Quarter EBITDA for Mar 24 to be $2.88B, with a high of $3.46B and a low of $2.31B. This is -21.58% lower than Caterpillar's previous annual EBITDA (Dec 23) of $3.68B.

Caterpillar Net Income Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts33334446947491689127781388913889127
Net Income------------$2.68B--$1.94B$1.45B$2.04B$1.67B$1.54B$2.13B$1.43B$1.41B$1.53B$780.00M$668.00M$458.00M$1.09B$1.10B$1.49B
Avg Forecast$2.75B$2.75B$2.97B$2.69B$2.61B$2.60B$2.76B$2.51B$2.46B$2.60B$2.71B$1.66B$2.32B$2.34B$2.23B$1.51B$1.89B$1.55B$1.48B$1.37B$1.11B$1.08B$1.18B$876.20M$728.52M$577.79M$314.96M$1.15B$1.17B$1.42B
High Forecast$2.87B$2.88B$3.10B$2.81B$2.73B$2.72B$2.89B$2.76B$2.55B$2.62B$2.71B$1.99B$2.47B$2.50B$2.33B$1.81B$2.27B$1.55B$1.48B$1.65B$1.11B$1.08B$1.18B$1.05B$728.52M$577.79M$314.96M$1.38B$1.17B$1.42B
Low Forecast$2.60B$2.60B$2.80B$2.54B$2.47B$2.46B$2.61B$2.27B$2.33B$2.59B$2.71B$1.33B$2.12B$2.13B$2.10B$1.21B$1.51B$1.55B$1.48B$1.10B$1.11B$1.08B$1.18B$700.96M$728.52M$577.79M$314.96M$920.12M$1.17B$1.42B
Surprise %------------1.15%--1.29%0.77%1.32%1.13%1.12%1.93%1.32%1.20%1.75%1.07%1.16%1.45%0.95%0.94%1.05%

Caterpillar's average Quarter net income forecast for Mar 24 is $1.66B, with a range of $1.33B to $1.99B. CAT's average Quarter net income forecast represents a -37.99% decrease compared to the company's last Quarter net income of $2.68B (Dec 23).

Caterpillar SG&A Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts33334446947491689127781388913889127
SG&A------------$1.76B$1.62B-$1.46B$1.48B$1.40B$1.43B$1.35B$1.42B$1.34B$1.36B$1.24B$1.22B$1.13B$1.18B$1.12B$1.28B$1.25B
Avg Forecast$1.77B$1.70B$1.72B$1.58B$1.71B$1.64B$1.67B$1.56B$1.67B$1.64B$1.70B$1.45B$1.72B$1.67B$1.65B$1.32B$1.27B$1.44B$1.43B$1.20B$1.33B$1.26B$1.26B$709.55M$1.12B$977.55M$937.27M$1.18B$1.34B$1.35B
High Forecast$1.83B$1.76B$1.78B$1.64B$1.77B$1.70B$1.72B$1.58B$1.69B$1.65B$1.70B$1.74B$1.77B$1.72B$1.71B$1.59B$1.52B$1.44B$1.43B$1.44B$1.33B$1.26B$1.26B$851.46M$1.12B$977.55M$937.27M$1.42B$1.34B$1.35B
Low Forecast$1.69B$1.63B$1.64B$1.52B$1.63B$1.57B$1.60B$1.54B$1.65B$1.64B$1.70B$1.16B$1.68B$1.58B$1.58B$1.06B$1.01B$1.44B$1.43B$960.84M$1.33B$1.26B$1.26B$567.64M$1.12B$977.55M$937.27M$944.56M$1.34B$1.35B
Surprise %------------1.02%0.98%-1.11%1.17%0.97%0.99%1.12%1.07%1.06%1.08%1.75%1.08%1.15%1.26%0.95%0.96%0.93%

Caterpillar's average Quarter SG&A projection for Mar 24 is $1.45B, based on 4 Wall Street analysts, with a range of $1.16B to $1.74B. The forecast indicates a -17.24% fall compared to CAT last annual SG&A of $1.76B (Dec 23).

Caterpillar EPS Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts33334446947491689127781388913889127
EPS------------$5.31--$3.76$2.81$3.89$3.15$2.88$3.96$2.62$2.58$2.80$1.43$1.23$0.84$2.00$2.00$2.69
Avg Forecast$5.65$5.66$6.09$5.53$5.37$5.35$5.68$5.16$5.06$5.35$5.56$5.14$4.76$4.80$4.57$3.80$4.02$3.16$3.01$2.60$2.26$2.20$2.41$1.94$1.49$1.18$0.64$1.69$2.38$2.90
High Forecast$5.90$5.92$6.37$5.78$5.61$5.59$5.94$5.68$5.25$5.38$5.56$5.14$5.06$5.14$4.78$3.97$4.20$3.16$3.01$2.60$2.26$2.20$2.41$1.94$1.49$1.18$0.64$1.69$2.38$2.90
Low Forecast$5.33$5.35$5.75$5.22$5.07$5.05$5.36$4.67$4.79$5.32$5.56$5.14$4.35$4.39$4.32$3.59$3.79$3.16$3.01$2.60$2.26$2.20$2.41$1.94$1.49$1.18$0.64$1.69$2.38$2.90
Surprise %------------1.11%--0.99%0.70%1.23%1.05%1.11%1.75%1.19%1.07%1.44%0.96%1.04%1.31%1.19%0.84%0.93%

According to 4 Wall Street analysts, Caterpillar's projected average Quarter EPS for Mar 24 is $5.14, with a low estimate of $5.14 and a high estimate of $5.14. This represents a -3.22% decrease compared to CAT previous annual EPS of $5.31 (Dec 23).

Caterpillar Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
NKLANikola$1.21$13.00974.38%Buy
LEVLion Electric Company$0.25$1.00300.00%Hold
TEXTerex$47.29$65.0037.45%Hold
MTWManitowoc Company$9.35$12.7536.36%Buy
AGCOAGCO$96.86$107.6711.16%Hold
LNNLindsay$127.18$138.508.90%Buy
OSKOshkosh$97.67$105.007.50%Buy
ALGAlamo Group$196.51$209.006.36%Buy
CATCaterpillar$375.80$392.504.44%Buy
PCARPACCAR$111.66$114.402.45%Buy
WNCWabash National$18.27$18.00-1.48%Hold
DEDeere & Company$443.59$410.00-7.57%Buy

CAT Forecast FAQ

Is Caterpillar a good buy?

Yes, according to 18 Wall Street analysts, Caterpillar (CAT) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 12 'Buy' recommendations, accounting for 66.67% of CAT's total ratings.

What is CAT's price target?

Caterpillar (CAT) average price target is $392.5 with a range of $332 to $454, implying a 8.92% from its last price of $360.37. The data is based on 18 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Caterpillar stock go up soon?

According to Wall Street analysts' prediction for CAT stock, the company can go up by 8.92% (from the last price of $360.37 to the average price target of $392.5), up by 25.98% based on the highest stock price target, and down by -7.87% based on the lowest stock price target.

Can Caterpillar stock reach $500?

CAT's average twelve months analyst stock price target of $392.5 does not support the claim that Caterpillar can reach $500 in the near future.

What are Caterpillar's analysts' financial forecasts?

Caterpillar's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $65.45B (high $67.38B, low $63.13B), average EBITDA is $13.31B (high $13.7B, low $12.84B), average net income is $10.49B (high $11.11B, low $9.81B), average SG&A $6.58B (high $6.77B, low $6.34B), and average EPS is $21.56 (high $22.82, low $20.15). CAT's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $67.34B (high $69.68B, low $64.46B), average EBITDA is $13.7B (high $14.17B, low $13.11B), average net income is $11.16B (high $11.66B, low $10.54B), average SG&A $6.77B (high $7B, low $6.48B), and average EPS is $22.93 (high $23.96, low $21.65).

Did the CAT's actual financial results beat the analysts' financial forecasts?

Based on Caterpillar's last annual report (Dec 2023), the company's revenue was $67.06B, beating the average analysts forecast of $65.23B by 2.81%. Apple's EBITDA was $15.11B, beating the average prediction of $12.82B by 17.89%. The company's net income was $10.34B, beating the average estimation of $8.39B by 23.19%. Apple's SG&A was $6.37B, beating the average forecast of $6.36B by 0.19%. Lastly, the company's EPS was $20.24, beating the average prediction of $17.94 by 12.82%. In terms of the last quarterly report (Dec 2023), Caterpillar's revenue was $17.07B, missing the average analysts' forecast of $17.09B by -0.11%. The company's EBITDA was $3.68B, beating the average prediction of $3.48B by 5.85%. Caterpillar's net income was $2.68B, beating the average estimation of $2.32B by 15.40%. The company's SG&A was $1.76B, beating the average forecast of $1.72B by 2.25%. Lastly, the company's EPS was $5.31, beating the average prediction of $4.76 by 11.45%