Caterpillar’s Target, Estimates Boosted at RBC Capital (CAT)

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Construction equipment maker Caterpillar Inc. ( CAT ) on Wednesday saw its price target and earnings estimates raised by analysts at RBC Capital.

The firm reiterated its "Outperform" rating on CAT and boosted its price target to $108. That new target represents an expected 17% upside to the stock's Tuesday closing price of $92.02.

RBC Capital also raised its earnings estimates for CAT through 2012, citing higher demand for its products, particularly in its mining division.

Caterpillar shares rose 69 cents, or +0.8%, in premarket trading Wednesday.

The Bottom Line
We recently began recommending shares of Caterpillar ( CAT ) when the stock was trading at $89.20. Shares of Caterpillar ( CAT ) have a 1.91% dividend yield, based on last night's closing stock price of $92.09.

Caterpillar Inc. ( CAT ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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