Caterpillar (CAT) Stock Forecast & Price Target

$703.30 -36.91 (-4.99%)

Closing price 10/22/2026 03:59 PM Eastern

Extended Trading

$703.60 +0.31 (+0.04%)

As of 10/22/2026 07:59 PM Eastern

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Caterpillar - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 27 Analyst Ratings

Sell
0

Hold
12

Buy
15

Based on 27 Wall Street analysts who have issued ratings for Caterpillar in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 27 analysts, 12 have given a hold rating, and 15 have given a buy rating for CAT.

Consensus Price Target

$967.83
37.61% Upside

According to the 27 analysts' twelve-month price targets for Caterpillar, the average price target is $967.83. The highest price target for CAT is $1,165.00, while the lowest price target for CAT is $749.00. The average price target represents a forecasted upside of 37.61% from the current price of $703.30.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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CAT Analyst Ratings Over Time

Type	Current Forecast 10/23/25 to 10/23/26	1 Month Ago 9/23/25 to 9/23/26	3 Months Ago 7/25/25 to 7/25/26	1 Year Ago 10/23/24 to 10/23/25
Strong Buy	0 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	15 Buy rating(s)	15 Buy rating(s)	15 Buy rating(s)	13 Buy rating(s)
Hold	12 Hold rating(s)	11 Hold rating(s)	10 Hold rating(s)	6 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$967.83	$994.38	$980.57	$519.40
Forecasted Upside	37.61% Upside	22.44% Upside	10.27% Upside	-0.19% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

CAT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CAT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Caterpillar Stock vs. The Competition

Type	Caterpillar	Industrials Companies	Broader Market
Consensus Rating Score	2.56	2.30	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	37.61% Upside	140.97% Upside	15.79% Upside
News Sentiment Rating	Positive News See Recent CAT News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

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Rating

Upside/Downside

Action

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
10/14/2026	Weiss Ratings 3 of 5 stars		Upgrade	Buy (B-) ➝ Buy (B)
10/14/2026	Sanford C. Bernstein 3 of 5 stars	Chad Dillard Not Rated	Reiterated Rating	Market Perform	$749.00	-1.78%
10/14/2026	Oppenheimer 3 of 5 stars	Kristen Owen 3 of 5 stars	Lower Target	Outperform	$1,118.00 ➝ $1,009.00	+34.66%
10/12/2026	Citigroup Subscribe to MarketBeat All Access to unlock brokerage rankings	Kyle Menges Subscribe to MarketBeat All Access to unlock analyst rankings	Lower Target	Buy	$1,100.00 ➝ $950.00	+18.65%
10/5/2026	Truist Financial Subscribe to MarketBeat All Access to unlock brokerage rankings	Jamie Cook Subscribe to MarketBeat All Access to unlock analyst rankings	Lower Target	Buy	$1,225.00 ➝ $1,100.00	+29.42%
10/5/2026	Zacks Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Downgrade	Strong-Buy ➝ Hold
9/18/2026	President Capital Subscribe to MarketBeat All Access to unlock brokerage rankings		Initiated Coverage	Buy	$999.00	+23.01%
9/10/2026	Needham & Company LLC Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$980.00	+20.04%
9/10/2026	Freedom Broker Subscribe to MarketBeat All Access to unlock brokerage rankings	Sergey Glinyanov Subscribe to MarketBeat All Access to unlock analyst rankings	Upgrade	Hold ➝ Buy	$980.00	+20.04%
8/6/2026	DA Davidson Subscribe to MarketBeat All Access to unlock brokerage rankings	Michael Shlisky Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$845.00 ➝ $882.00	+1.45%
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8/6/2026	Barclays Subscribe to MarketBeat All Access to unlock brokerage rankings	Adam Seiden Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Equal Weight	$800.00 ➝ $900.00	+3.21%
8/5/2026	UBS Group Subscribe to MarketBeat All Access to unlock brokerage rankings	Steven Fisher Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$900.00 ➝ $925.00	+4.16%
8/5/2026	Robert W. Baird Subscribe to MarketBeat All Access to unlock brokerage rankings	Mircea Dobre Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target		$970.00	+10.14%
8/5/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access to unlock brokerage rankings	Sabahat Khan Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Sector Perform	$877.00 ➝ $897.00	+1.93%
7/27/2026	Erste Group Bank Subscribe to MarketBeat All Access to unlock brokerage rankings		Downgrade	Buy ➝ Hold
6/23/2026	Wells Fargo & Company Subscribe to MarketBeat All Access to unlock brokerage rankings	Jerry Revich Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Overweight	$1,050.00 ➝ $1,155.00	+13.20%
6/17/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access to unlock brokerage rankings	Tami Zakaria Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Overweight	$1,125.00 ➝ $1,165.00	+21.34%
5/14/2026	Rothschild & Co Redburn Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Neutral	$700.00 ➝ $950.00	+4.24%
5/11/2026	Evercore Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Outperform	$1,103.00	+22.19%
5/5/2026	HSBC Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target		$850.00 ➝ $1,100.00	+21.60%
5/5/2026	Argus Subscribe to MarketBeat All Access to unlock brokerage rankings	John Eade Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$820.00 ➝ $990.00	+13.18%
5/1/2026	Morgan Stanley Subscribe to MarketBeat All Access to unlock brokerage rankings	Angel Castillo Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Underweight ➝ Equal Weight	$430.00 ➝ $915.00	+2.70%
5/1/2026	Bank of America Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Buy	$930.00 ➝ $989.00	+11.11%
5/1/2026	Jefferies Financial Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Buy	$900.00 ➝ $1,045.00	+17.30%
5/1/2026	Daiwa Securities Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Neutral	$790.00 ➝ $900.00	+1.02%
3/31/2026	Wolfe Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Outperform	$670.00 ➝ $750.00	+2.55%
3/10/2026	Williams Trading Subscribe to MarketBeat All Access to unlock brokerage rankings	Michael Feniger Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target		$825.00	+15.10%
2/6/2026	CICC Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Initiated Coverage	Outperform
1/7/2026	Raymond James Financial Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Market Perform
7/9/2025	Melius Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Hold ➝ Buy	$500.00	+26.83%
2/3/2025	Wedbush Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Outperform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 01:11 AM ET.

Should I Buy Caterpillar Stock? CAT Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, October 22, 2026. Please send any questions or comments about these Caterpillar pros and cons to contact@marketbeat.com.

Caterpillar
Bull Case

Here are some ways that investors could benefit from investing in Caterpillar Inc.:

Caterpillar Inc. recently reported a significant earnings beat in its latest quarter, delivering $8.17 in earnings per share compared to the consensus estimate of $6.22, while revenue of $20.54 billion also exceeded expectations of $19.34 billion, demonstrating strong operational performance and the ability to outperform market forecasts.
The company holds a record backlog of $72 billion, which provides substantial visibility into future revenue and supports the raised 2026 sales-growth outlook, indicating that demand for its construction, mining, and industrial equipment remains robust despite broader economic uncertainties.
Wall Street analysts maintain a "Moderate Buy" consensus rating with an average price target of $967.83, which is significantly higher than the current stock price of $703.30, suggesting that the market may be undervaluing the company's potential for future growth and earnings expansion.
Caterpillar Inc. continues to support shareholder returns with a stable dividend yield of 0.90% and a low payout ratio of 28.06%, indicating that the company has ample cash flow to maintain its dividend while retaining capital for reinvestment or future increases, as evidenced by its strong cash flow generation.
Recent technical analysis suggests the stock has found support after a recent decline, with the formation of a hammer chart pattern and a trend of analysts revising earnings estimates higher, which may signal a potential turnaround in investor sentiment and price appreciation in the near term.

Caterpillar
Bear Case

Investors should be bearish about investing in Caterpillar Inc. for these reasons:

The stock is currently trading at $703.30, which is well below its 52-week high of $1,073.46 and its 50-day moving average of $805.28, indicating that the stock has experienced a significant pullback and may be vulnerable to further declines if earnings momentum slows or if broader market conditions deteriorate.
Caterpillar Inc. has a high beta of 1.58, meaning the stock is more volatile than the overall market and may experience larger price swings in response to economic news, interest rate changes, or sector-specific developments, which could lead to greater short-term losses for investors.
Recent insider activity has been predominantly negative, with CEO Joseph E. Creed selling 32,401 shares in August 2026 and other executives such as CFO Andrew R. J. Bonfield and CAO William E. Schaupp also selling shares in May 2026, which may signal a lack of confidence from company leadership in the current stock price or future performance.
The company's price-to-earnings ratio of 30.26 is relatively high compared to historical averages, suggesting that the stock may be overvalued relative to its current earnings, and any disappointment in future earnings reports could lead to a significant re-rating of the stock price downward.
Short interest in Caterpillar Inc. has increased in recent months, with shares shorted rising to 8,005,755 as of September 30, 2026, indicating that some investors are betting against the stock and that there may be significant selling pressure if the company fails to meet expectations in its upcoming earnings report.

CAT Forecast - Frequently Asked Questions

According to the research reports of 27 Wall Street equities research analysts, the average twelve-month stock price forecast for Caterpillar is $967.83, with a high forecast of $1,165.00 and a low forecast of $749.00.

27 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Caterpillar in the last twelve months. There are currently 12 hold ratings and 15 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CAT shares.

According to analysts, Caterpillar's stock has a predicted upside of 37.61% based on their 12-month stock forecasts.

Over the previous 90 days, Caterpillar's stock had 4 upgrades and 4 downgrades by analysts.

Caterpillar has been rated by research analysts at Barclays, Citigroup, DA Davidson, Erste Group Bank, Freedom Broker, Needham & Company LLC, Oppenheimer, President Capital, Robert W. Baird, Royal Bank Of Canada, Sanford C. Bernstein, Truist Financial, UBS Group, Weiss Ratings, and Zacks Research in the past 90 days.

Analysts like Caterpillar more than other "industrials" companies. The consensus rating for Caterpillar is Moderate Buy while the average consensus rating for "industrials" companies is Hold. Learn more on how CAT compares to other companies.

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MarketBeat monitors more than a dozen sources for Caterpillar analyst ratings, with the most recent rating issued on 10/14/2026.

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Caterpillar (CAT) Stock Forecast & Price Target