Caterpillar Likely To Report Higher Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Caterpillar Inc. CAT is expected to release financial results for its third quarter, before the opening bell on Oct. 31, 2023.

Analysts expect the company to post quarterly earnings at $4.79 per share, up from year-ago earnings of $3.95 per share. The company’s revenue might come in at $16.59 billion, compared to $14.99 billion in the year-ago period.

Caterpillar shares gained 1.5% to close at $242.16 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Stifel analyst Stanley Elliott maintained a Buy rating and raised the price target from $275 to $300 on Aug. 2, 2023. This analyst has an accuracy rate of 71%.
• TD Cowen analyst Matt Elkott maintained an Outperform rating and increased the price target from $287 to $320 on Aug. 2, 2023. This analyst has an accuracy rate of 72%.
• Goldman Sachs analyst Jerry Revich maintained a Buy rating and boosted the price target from $274 to $315 on Aug. 2, 2023. This analyst has an accuracy rate of 74%.
• Baird analyst Mircea Dobre maintained an Underperform rating and raised the price target from $183 to $234 on Aug. 2, 2023. This analyst has an accuracy rate of 74%.
• Citigroup analyst Timothy Thein maintained a Neutral rating and increased the price target from $240 to $270 on July 18, 2023. This analyst has an accuracy rate of 75%.

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