Caterpillar upgraded to Buy after record Q2 earnings and raised 2026 EPS forecast.

Caterpillar was upgraded to Buy following its record-breaking Q2 results, which included an $8.17 EPS surpassing the $7.20 consensus, $20.5 billion in revenue up 23.5% year-over-year, and a $72.1 billion order backlog. The company's 2026 EPS forecast was raised from $24.72 to $27.19, supporting an intrinsic value estimate of $930 per share based on a 30x P/E ratio. Despite mixed technical signals, sustained support above $770 and improving momentum indicators suggest a favorable risk/reward for investors. This upgrade reflects confidence in Caterpillar's strong forward earnings growth and market position.

Caterpillar shares are trading at USD 868.55 on Pluang, showing a 2.41% gain as of Oct 06, 2026 22:21 WIB. The stock enjoys strong buying interest with 69% of orders on Pluang being buys, reflecting positive market sentiment around the company’s outlook.