These Analysts Raise Their Forecasts On Caterpillar Following Better-Than-Expected Q3 Results

Author: Avi Kapoor | October 30, 2025 12:28pm

Caterpillar Inc (NYSE:CAT) reported better-than-expected third-quarter financial results on Wednesday.

Sales and revenues climbed 10% year over year to $17.64 billion, beating analyst estimates of $16.77 billion, compared with $16.1 billion in the same quarter last year.

Adjusted earnings per share came in at $4.95, ahead of the $4.52 estimate, though slightly below $5.17 in the prior-year quarter. GAAP profit per share was $4.88, compared with $5.06 a year ago.

"Solid performance from our team generated strong results this quarter, driven by resilient demand and focused execution across our three primary segments," CEO Joe Creed said.

Looking ahead, the company expects 2025 full-year sales and revenues to be modestly higher than those in 2024, with full-year services revenues approximately flat compared to the prior year.

Caterpillar shares fell 0.1% to trade at $585.02 on Thursday.

These analysts made changes to their price targets on Caterpillar following earnings announcement.

• B of A Securities analyst Michael Feniger maintained Caterpillar with a Buy and raised the price target from $594 to $650.
• Truist Securities analyst Jamie Cook reiterated Caterpillar with a Buy and raised the price target from $582 to $729.
• Barclays analyst Adam Seiden maintained the stock with an Equal-Weight rating and raised the price target from $485 to $555.
• Bernstein analyst Chad Dillard maintained Caterpillar with a Market Perform and boosted the price target from $502 to $557.

Considering buying CAT stock? Here’s what analysts think:

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Posted In: CAT