CAT is trading about 3% up at $1,064.45, extending a strong rebound toward record highs as investors increasingly view the company as a primary beneficiary of AI-related infrastructure growth.
- Baird recently raised its price target for CAT to $1,200, highlighting the company's significant leverage to data center expansion and global infrastructure spending.
- The current move builds on momentum from June 29’s 3.1% gain, following a period of volatility where the stock successfully held support near the $1,000 level.
- Market sentiment remains bullish as investors rotate into industrial leaders positioned to provide the power and equipment necessary for the burgeoning AI ecosystem.