Wells Fargo Rates Caterpillar (CAT) buy, $1,155 Price Target
Wells Fargo maintains its buy rating and a $1,155.00 target on Caterpillar Inc., aligning with a series of recent adjustments across the analyst community, a 9.27% upside from the current price.
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Wells Fargo rated Caterpillar Inc. ($CAT) "buy" with a $1,155 price target on June 23, 2026.
Since the rating, $CAT is up 8.2% after 1 week, down 8.9% after 1 month and down 25.6% to date (from the $982.42 close on Jun 23, 2026).
CAT
Caterpillar Inc.
Key Points
- Wells Fargo analyst Jerry Revich reiterated a buy rating on Caterpillar Inc. NYSE:CAT on June 23, 2026, setting a price target of $1,155.00.
- Wells Fargo's $1,155 price target implies 9.27% upside from Caterpillar Inc.'s ($CAT) current $1,057.01 share price.
- Caterpillar shares trade near the upper end of their 52-week range, supported by robust revenue growth and a price-to-earnings ratio of 31.67.
- The broader analyst community holds a consensus buy recommendation from 26 opinions, backed by a mean price target of $951.11.
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Wells Fargo Sets the Pace with a Bullish Call on Caterpillar
Wells Fargo has reaffirmed its positive outlook on heavy machinery giant Caterpillar Inc. NYSE:CAT. On June 23, 2026, firm analyst Jerry Revich reiterated a buy rating on the industrial stock while pointing to a price target of $1,155.00. That target sits well above the broader market consensus, showing strong confidence from the Wall Street firm as the company moves through the second half of the year.
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Where Wall Street Stands on the Heavy Equipment Maker
Other Wall Street firms have also updated their views on the machinery maker in recent months. On October 12, 2026, Citigroup maintained its buy rating while adjusting its price target to $950.00 from $1100.00. Earlier on October 5, 2026, Truist Securities maintained a buy rating with a $1100.00 target, while holding another view at a $1225.00 target on the same day. Freedom Broker stepped in with an upgrade to a buy rating with a $980.00 target on September 10, 2026. Evercore ISI Group kept an outperform rating with a $1045.00 target on August 11, 2026. DA Davidson maintained a neutral rating with an $882.00 target on August 6, 2026, and Barclays maintained an equal-weight rating with a $900.00 target on the same date. UBS maintained a neutral rating with a $925.00 target on August 5, 2026. Across the broader analyst community, the stock holds a consensus buy recommendation from 26 opinions with a mean price target of $951.11.
Caterpillar Shares Hover Near Yearly Highs
Caterpillar stock trades near its 52-week high of $1073.46, sitting close to that peak after moving up from its 52-week low of $510.21. The company carries a price-to-earnings ratio of 31.67 and a forward P/E of 22.57. Investors will look toward the company's next earnings report scheduled for October 29, 2026, for fresh details on revenue and margins.
$CAT price target
Caterpillar Inc. daily closes and this analyst's $1,155 target. Not advice.
Powering Global Infrastructure and Industries
Caterpillar Inc. builds construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates through segments that handle everything from heavy earthmoving machines to financial products and engine parts for global transport systems. This broad footprint ties its business directly into global infrastructure spending, mining activity, and energy project development.
Looking Ahead at Upcoming Catalysts
Market participants will be watching upcoming financial disclosures and institutional trading reports to gauge momentum. Recent activity showed varied institutional adjustments, such as Foster Group trimming its stake and First Citizens Bank adding to its position. Investors should monitor the October 29 earnings release for updated guidance and operational results.
Related Filing Alerts
Source: Wells Fargo's rating change on $CAT (Jun 23, 2026). Written by software, not financial advice. How we make alerts