Caterpillar Shares Surge After Fresh Analyst Targets, Q1 Beat, and AI Power Demand Momentum
Caterpillar shares climbed sharply in mid-day trading, driven by a wide re-rating from analysts following a pronounced Q1 earnings beat, higher guidance for 2026 and an expanding backlog. UBS and several other major firms raised price targets, while company remarks and a power-generation deal with PROPWR emphasized Caterpillar's role in infrastruct…