New York, Feb 27, 2026, 05:41 ET — Premarket
- Caterpillar shares were up about 2% in premarket trading after a Wall Street price-target hike.
- The stock fell 1.8% on Thursday, a session that dragged on the Dow.
- Investors are looking ahead to Caterpillar executives’ March 5 appearance at CONEXPO.
Caterpillar shares rose about 2% in premarket trading on Friday, recovering some ground after the stock slid in the prior session. 1
The move matters because Caterpillar has become a market proxy for two different stories at once: the old-cycle heavy equipment trade and a newer bet on power demand tied to data centers. Analysts have been pushing targets higher, even as day-to-day swings have widened. 2
CAT ended Thursday down 1.78% at $752.93 after trading between $728.40 and $770.61, according to its session data. 3
In the Dow, Caterpillar’s drop on Thursday was one of the biggest point drags during the index’s slide, alongside NVIDIA, a MarketWatch breakdown showed. 4
Wells Fargo analyst Jerry Revich raised his price target on Caterpillar to $870 from $756 while keeping an Overweight rating, StreetInsider reported. 5
Revich’s note leaned on U.S. non-residential construction, pointing to “an acceleration in power and data center” building, Barron’s reported. 2
Caterpillar’s Power and Energy segment has been the focal point since the company’s late-January results, when total fourth-quarter sales rose 18% to $19.1 billion. 6
Broader markets, meanwhile, are staring at next week’s U.S. jobs report and what it means for the rate path, a Reuters “Take Five” note said, with manufacturing data due at the start of the week. 7 8
There is a catch. Caterpillar has warned tariff-related costs could hit about $2.6 billion in 2026, and Jefferies analyst Stephen Volkmann wrote that “better-than-expected sales across business segments were hindered by tariff headwinds, limiting the margin expansion for the quarter.” 9
For Caterpillar specifically, the next named catalyst is March 5, when CEO Joe Creed and Construction Industries chief Rod Shurman are scheduled to appear in a CONEXPO fireside chat hosted by Jefferies’ Volkmann, the company said. 10
