New York, Feb 23, 2026, 17:00 EST — After the bell
- Caterpillar slipped roughly 0.4% after hours, having moved between $752.79 and $767.38 during the session.
- Evercore ISI bumped its CAT price target up to $878, while Wall Street Zen lowered its stance to “hold”.
- Traders are watching Caterpillar’s March 5 CONEXPO fireside chat for any fresh talk on demand, pricing, or tariffs.
Caterpillar Inc. ended Monday’s after-hours session down 0.4% at $756.47, despite Evercore ISI bumping its price target to $878 from $630. Analyst David Raso stuck with his “Outperform” call. BofA Securities’ Michael Feniger most recently set his target at $825. Morgan Stanley’s Angel Castillo, meanwhile, remains far lower at $425, according to GuruFocus. (GuruFocus)
The stock slipped late in the day, mirroring the broader mood on Wall Street. The S&P 500 dropped roughly 1% as renewed tariff jitters and fresh worries about the pace of AI development rattled traders. “The question about AI is twofold: How much is it going to cost, and who all is going to be disrupted?” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. (Reuters)
Caterpillar’s been swept up with other industrials riding the AI boom, linking recent demand for its hefty “prime power” generators—key for data centers—to a surge that’s now made its Power and Energy unit the company’s sales leader. Still, back in late January, Caterpillar flagged a potential $2.6 billion hit from tariffs in 2026. Jefferies’s Stephen Volkmann pointed out that tariffs already “limited the margin expansion for the quarter.” (Reuters)
CAT shares shifted within a $752.79 to $767.38 range Monday, changing hands roughly 2.3 million times. Among machinery names, Deere dropped 2.4%, while Cummins slipped nearly 1%.
Raso’s $878 price target towers over CAT’s most recent trade, highlighting just how wide the spread has gotten for a stock increasingly seen as a stand-in for heavy capex spending and pricing leverage. Analyst figures compiled by Benzinga point to a consensus closer to $680, with specific targets scattered between $425 and that $878 mark. (Benzinga)
Some aren’t convinced. Wall Street Zen cut its rating on Caterpillar to “hold” from “buy” on Feb. 21, according to MarketBeat. (MarketBeat)
Caterpillar’s shares haven’t clawed back to their recent top. The stock notched a 52-week high at $789.81 on Feb. 12, according to MarketWatch. (MarketWatch)
Executives at Caterpillar are set to get the mic again. CEO Joe Creed and Construction Industries Group President Rod Shurman will join a fireside chat with Jefferies’ Volkmann during CONEXPO in Las Vegas, scheduled for March 5 around 8:00 a.m. PST. The discussion will be webcast publicly. (Caterpillar Investors)
Still, the risks are real. Tariff headlines are the unpredictable factor here—any flare-up could pressure margins or disrupt demand forecasts for equipment orders. If construction or resource sectors hit the brakes harder than expected, the bullish outlook faces a fast reality check.
Looking ahead, March 5 stands out as the next major date. Investors are set to tune in for any signals on end-market demand, pricing shifts, and potential developments around the tariff bill.
