Caterpillar Inc(CAT) is exhibiting a strong momentum as a growth stock positioned for long-term success. Significant developments include investments of $90M in Schertz and Seguin facilities and a profitable report of $7B in construction heavy equipment sector. Caterpillar was also praised for their sustainability efforts because of their Certified Rebuilds program. Morgan Stanley and DA Davidson both initiated coverage on CAT with equal-weight and neutral recommendations, respectively. The company has continuously topped earnings forecasts, propelling its stock upwards by 8.1% since its last earnings report. A key highlight being the use of a 240-ton electric haul truck in Vale Mine, indicative of Caterpillar's move towards sustainable practices. The company has recently announced plans to delist from Euronext Paris. Despite market volatility, CAT stock has demonstrated resilience, consistently outperforming market downturns. Caterpillar has also successfully demonstrated its diverse portfolio to Newmont and confirmed the viability of hydrogen fuel cell technology. However, the company recently faced a setback as Boeing's Ex-CEO Calhoun resigned from the board. Furthermore, they faced a $100 million jury verdict in an importer's lawsuit.
Caterpillar CAT News Analytics from Tue, 01 Aug 2023 07:00:00 GMT to Sun, 19 May 2024 20:13:01 GMT -
Rating 8
- Innovation 7
- Information 8
- Rumor 3
