Caterpillar stock digging out of mining malaise, time to buy, Barron’s says

Caterpillar stock has powered higher as the well-oiled company managed through a difficult economic environment. Now, headwinds are turning into tailwinds, and the shares can build on their previous gains, Al Root writes in this week’s edition of Barron’s. It might feel like an odd time to recommend buying Caterpillar stock, but at about $378, the shares are in line with their five-year average. That’s a sign that investors haven’t given the company full credit for improvements made to profitability and efficiency over the past few years, let alone the good news that could arrive in the months ahead, the author says.