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