CAT stock holds near $691 after a 5% jump — analysts cite backlog as traders eye fresh U.S. data
Caterpillar shares surged 5.1% to $690.91 on Monday, holding steady in early premarket trading Tuesday. The move followed a jump in the U.S. manufacturing PMI to 52.6, renewed tariff concerns, and analyst price-target hikes. Caterpillar reported record quarterly sales last week and projects a $2.6 billion tariff impact for 2026. The January U.S. jobs report has been delayed due to the partial government shutdown.