New York, Jan 28, 2026, 20:55 EST — Markets have closed for the day.
- Caterpillar shares climbed roughly 0.7% to close at $643.28 on Wednesday.
- Results will be released ahead of the U.S. market open on Thursday, Jan. 29.
- CAT grabbed attention after securing a 2-gigawatt data-center power contract and seeing an analyst raise its target price.
Caterpillar Inc (CAT.N) shares closed Wednesday up roughly 0.7%, finishing at $643.28. Throughout the day, the stock fluctuated between $629.39 and $646.84, with around 2.7 million shares changing hands.
Investors are eyeing Thursday’s earnings for clues on 2026 demand and margins. Analysts surveyed by Nasdaq.com forecast quarterly earnings of $4.67 per share, roughly 9% lower than last year.
American Intelligence & Power Corp announced on Wednesday it has ordered 2 gigawatts of fast-response natural-gas generator sets for its Monarch Compute Campus. The purchase, linked to Caterpillar and dealer Boyd CAT, schedules deliveries between September 2026 and August 2027. “Projects like Monarch demonstrate how Caterpillar’s natural gas generation platforms are being deployed as core infrastructure for data centers,” said Melissa Busen, Caterpillar’s senior vice president of Electric Power. PR Newswire
Caterpillar announced it will release its fourth-quarter and full-year 2025 results at 5:30 a.m. CST on Thursday, followed by a conference call and webcast at 7:30 a.m. CST. The company also said it will file the release on a Form 8-K with the U.S. Securities and Exchange Commission.
Jefferies bumped its price target for Caterpillar to $750 from $700 this week, maintaining a buy rating. The firm cited a “balanced” setup ahead of earnings alongside improving construction demand. The new target is based on a 25-times multiple of its 2026 EBITDA estimate. Investing.com
Macro developments continue to unfold behind the scenes. On Wednesday, the Federal Reserve kept rates steady at 3.50% to 3.75%, halting its rate-cut streak as officials wait for clearer signals on inflation and economic growth.
Traders face a busy end to the week with U.S. data on productivity and labor costs due Thursday, followed by producer prices on Friday. These figures could alter rate expectations and affect financing calculations for major equipment purchases.
Caterpillar faces familiar pressure points: pricing, costs, and dealer inventory moves. These inventories refer to machines on independent dealer lots—not Caterpillar’s warehouses—but they still influence the factory’s short-term production plans.
There’s a downside scenario that doesn’t rely on a sudden shock. Big data-center projects tend to come in waves, so delays in permits, grid hookups, or client schedules could cause “power” growth to fluctuate sharply from one quarter to the next. A softening construction market or new tariff expenses would only add to the pressure.
Thursday’s report and 2026 guidance are next on deck. Investors will zero in on management’s take regarding the data-center power pipeline, pricing discipline, and any initial signals on order momentum as February approaches.
