New York, Jan 12, 2026, 15:37 EST — Regular session
- Caterpillar shares climbed to an intraday high and were last trading up roughly 1.4% in the afternoon session
- Citigroup raised its price target for the machinery maker but maintained its buy rating
- Attention turns to the Jan. 13 U.S. CPI report and Caterpillar’s earnings on Jan. 29
Caterpillar Inc shares hit an intraday high on Monday, outpacing a steady U.S. market as investors focused on major industrial stocks ahead of key data releases and the upcoming late-January earnings season. The stock climbed $8.44, or roughly 1.4%, to $626.06 in afternoon trading, after peaking at $630.76 earlier in the day.
Caterpillar matters now as a key gauge for heavy equipment demand, and its stock is trading in a range where even slight shifts in sentiment can pack a punch. Traders are trying to figure out if 2026 will kick off with strong orders or if dealers and customers will stick to “wait-and-see” buying once again.
Investors now juggle two clocks: short-term macro signals that shift rate expectations, and company-specific updates on pricing, dealer inventories, and backlog. Caterpillar’s upcoming report later this month stands out as one of the first major industrial results of the cycle.
Monday’s gains were fueled by a Wall Street update. Citigroup lifted its price target for Caterpillar to $710 from $690 and kept its buy rating intact, MT Newswires reported. (MarketScreener)
U.S. stocks crept higher in afternoon trading, buoyed by tech shares and Walmart, despite early jitters. Investors stayed cautious, watching the week’s key events unfold. “The market is taking it in stride,” said Peter Cardillo, chief market economist at Spartan Capital Securities, as focus shifts to earnings season kickoff and Tuesday’s consumer price index report for Jan. 13. (Reuters)
Caterpillar’s jump wasn’t alone in the machinery sector, but it definitely caught attention. Deere edged up around 0.3%, Terex climbed roughly 1.4%, and truck maker Paccar dipped about 1%.
Caterpillar investors face a familiar question: how long will robust end-user demand counterbalance typical cyclical patterns, and is the surge from “catch-up” buying after supply issues starting to wane? With the stock hitting new highs, the market seems priced for some solid news.
The risk is clear. If inflation data comes in hotter than expected, or if firms signal they’re dialing back on equipment spending, those “rate relief” trades could reverse sharply, dragging industrials down. Even a slight sign that pricing power is weakening would probably hit hard at these levels.
Caterpillar plans to release its fourth-quarter earnings on Jan. 29, followed by a call at 8:30 a.m. Eastern, per the company’s earnings schedule. (Caterpillar Investors)
