Caterpillar targets strong growth with tripled engine capacity amid rising data center and power demand

Caterpillar is positioned for sustained growth driven by increasing demand for data center construction and power infrastructure. The company plans to expand its engine capacity threefold and turbine capacity 2.5 times by 2030, aiming to boost recurring revenue from primary and standby power solutions. This strategy leverages a multi-year backlog for industrial gas turbines and addresses power supply shortages faced by utilities. Analyst Michael Del Monte recommends buying Caterpillar shares with a price target of $1,145, citing strong industry trends and solid financial outlooks.