Caterpillar Inc is trading 5% up at $908.64 after the company announced a positive update to its financial guidance for 2026.
- For fiscal 2026, Caterpillar now anticipates low double-digit revenue growth compared to 2025, an increase from its previous projection of being near the upper end of its long-term 5-7% target.
- The optimistic forecast is underpinned by a record backlog, which stood at $62.7 billion at the end of the first quarter, indicating strong future demand.
- Following the news, analysts have reiterated a constructive stance, with UBS raising its price target on the stock to $900.