Caterpillar Shares Advance 0.84% on $1.48B Volume (45th in Market Activity) Following Evercore ISI Upgrade to 'Outperform'

On August 19, 2025, Caterpillar (CAT) shares advanced 0.84% with a trading volume of $1.48 billion, ranking 45th in market activity. The move followed a strategic upgrade from Evercore ISI, which elevated the stock to "outperform" from "in line" and raised its price target to $476 per share, signaling over 15% potential upside from recent levels. The firm also included Caterpillar in its list of top five preferred stocks, citing the company’s production leverage and geographic diversification as key strengths amid sector-wide challenges.

Analyst David Raso highlighted Caterpillar’s favorable positioning in the U.S. construction market, where the end of inventory drawdown is expected to drive demand. The firm emphasized that reduced discounting and improved pricing power could enhance earnings per share in late 2025 and into 2026. Caterpillar’s exposure to power generation and data center infrastructure was noted as a secondary catalyst to broaden investor appeal, reinforcing the upgrade rationale.

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