Caterpillar price target raised to $357 from $350 at DA Davidson

DA Davidson raised the firm’s price target on Caterpillar (CAT) to $357 from $350 and keeps a Neutral rating on the shares after its Q4 earnings beat. The company does not give formal guidance, but it appears that revenues and earnings will only be down slightly in 2025, while margins and free cash flow will be in the upper half of the “admittedly wide” long-term range, the analyst tells investors in a research note. Datacenters and energy-related projects continue to drive Caterpillar’s business across all three segments, even though its classic construction projects and mining are mixed, the firm added.