CAT is trading at $590.97, up 3.16%, after Wolfe Research issued a significant upgrade, raising its price target to $670 from $470 while maintaining an Outperform rating.
- The upgrade reflects continued confidence in the AI infrastructure narrative, which fueled a 62% stock gain throughout 2025.
- The stock is also benefiting from the broader market rally, as AI-related stocks lead early 2026 trading.