Caterpillar Trades Above $800. Here's Why It Could Be a $1,000 Stock by 2028.
The company is seeing high-margin growth from its ability to provide core power and backup power to AI data centers.
Overview
Caterpillar (NYSE: CAT) is a leading maker of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.
On Oct. 1, the industrial stock was trading at around $822 per share and was up more than 43% so far this year, though it's down notably from the 52-week high of $1,073.46 it reached on June 30.
Details
In that context, it certainly isn't out of the realm of possibility that Caterpillar could be trading above $1,000 within the next three years, and here are three reasons why I think it will be.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.