We recently published 10 Stocks on Jim Cramer’s Radar. Caterpillar Inc. (NYSE:CAT) is one of the stocks that on Jim Cramer’s radar.
Construction equipment giant Caterpillar Inc. (NYSE:CAT)’s shares are up by 115% over the past year and by 27% year-to-date. Baird discussed the firm in late January as it raised the share price target to $805 from $680. The coverage came after Caterpillar Inc. (NYSE:CAT)’s fiscal fourth quarter earnings report. During the quarter, the firm earned $19.1 billion in revenue and $5.16 in profit per share. The accompanying comments by the CEO followed a theme that Cramer has long discussed for the firm. The CNBC TV host has repeatedly asserted that Caterpillar Inc. (NYSE:CAT) is set to benefit from the boom in growing data center construction, and the firm’s CEO Joe Creed commented that data center operators were turning towards on-site power generation. Jefferies discussed the stock ahead of the earnings. It raised the share price target to $750 from $700 and kept a Buy rating on the stock. The bank commented that Caterpillar Inc. (NYSE:CAT) was heading into a favorable setup for the earnings. As for Cramer, he praised the firm’s performance:
“Have you guys looked at Caterpillar? Oh my, don’t look too close here, eyes will burn, it’s just amazing.”
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Disclosure: None. This article is originally published at Insider Monkey.
