[ad_1]
By Sam Boughedda
Investing.com — Caterpillar Inc’s (NYSE:) value goal was raised to $282 from $278 by Tigress Monetary Companions analyst Ivan Feinseth on Friday.
In a be aware to buyers, the analyst reiterated a Purchase score on the inventory, stating that the corporate “continues to see sturdy end-market demand pushed by sturdy traits in capital tools spending and introduced a brand new $15 billion share repurchase at its Analyst Day.”
“CAT is well-positioned to learn from ongoing capital tools spending pushed primarily by increasing power and mining market progress. CAT is benefiting from a powerful international restoration, driving will increase in commodity costs and development demand,” added Feinseth.
The corporate posted in late April, beating earnings and income estimates. Income rose 14% year-over-year to $13.6 billion, pushed by greater gross sales quantity and demand for tools and providers.
“CAT will proceed to see sturdy demand for its mining tools as international demand for and lithium will increase, pushed by the continuing power transition and the ramp-up of battery and hydrogen gas cell manufacturing,” the analyst wrote.
“Enhancements in money circulation will allow CAT to proceed to boost shareholder returns by means of ongoing dividend will increase and share repurchases. Our 12-month goal value of $282 represents a possible complete return with dividends of over 40% from present ranges.”
Caterpillar inventory is down 5.3% Friday.
[ad_2]
Source link