Citi raised the firm’s price target on Caterpillar (CAT) to $370 from $320 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q1 report. Citi raised our sales estimates through Q4 across all segments, reflecting Caterpillar’s “solid” backlog and slightly better pricing. The analyst anticipates the direct tariff impact to the company to be minimized over the next 12 months.
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