Caterpillar price target raised to $345 from $295 at Tigress Financial

Tigress Financial analyst Ivan Feinseth raised the firm’s price target on Caterpillar to $345 from $295 and keeps a Buy rating on the shares. The analyst is citing the “strong portfolio effect” of the company’s business lines as strength alternative energy development offset weaknesses in other business lines. The firm also believes that the ongoing infrastructure spending and upgrades, combined with increasing operating efficiencies and ongoing autonomous solution development, will continue to drive long-term shareholder value creation for Caterpillar, calling the stock’s recent pullback a “buying opportunity”.