Caterpillar stock: BofA cuts target to USD 850 from USD 989
Published on 10/20/2026 at 16:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBofA target and dates
- Markets Insider reported on October 19, 2026 that BofA cut its target from USD 989.00 to USD 850.00.
- Caterpillar reported second-quarter revenue of USD 20.54 billion, up 23.70 percent year over year.
- Caterpillar stock costs EUR 648.70 at Lang & Schwarz on October 20, 2026 at 4:32 p.m. CEST, down 0.54 percent versus the Xetra close of October 19, 2026.
- Caterpillar will release third-quarter results on October 29, 2026.
Caterpillar (ISIN US1491231015) is facing a lower analyst valuation after BofA cut its price target from USD 989.00 to USD 850.00 on October 19, 2026, while keeping a Buy rating, as Markets Insider reported. Caterpillar stock was trading at EUR 648.70 at Lang & Schwarz on October 20, 2026 at 4:32 p.m. CEST, down 0.54 percent versus the Xetra close of October 19, 2026 at EUR 652.20.
Target cut leaves room above USD 850
The revised BofA target stands 16.50 percent above Caterpillar's USD 729.62 NYSE price at 10:37 a.m. EDT on October 20, 2026. That comparison uses the same home-market currency and keeps the analyst view separate from the euro quotation.
The target reduction comes as analysts debate the durability of Caterpillar's backlog and demand for power equipment. Markets Insider said the concerns include peak backlog, higher interest rates and power equipment risks, while BofA said earnings-per-share revisions carry more weight after the valuation reset.
USD 510.21 to USD 1,073.46 range
Caterpillar's NYSE price was USD 729.62 at 10:37 a.m. EDT on October 20, 2026, against a 52-week range of USD 510.21 to USD 1,073.46. Its market capitalization was USD 335.4 billion, the price-to-earnings ratio was 31.39 and volume reached 589,324 shares at that timestamp.
The stock remains 32.08 percent below its 52-week high and 43.00 percent above its 52-week low. The one-year range puts the current valuation in the upper half of the trading band, but below the October peak.
What comes next for Caterpillar?
Caterpillar will release third-quarter 2026 financial results on October 29, 2026, at 5:30 a.m. CDT, according to the company's investor-relations release dated October 15, 2026: Caterpillar. The conference call begins at 7:30 a.m. CDT on the same date.
The latest reported quarter provides the operating benchmark. Caterpillar posted USD 20.54 billion of revenue and USD 8.17 of earnings per share in the second quarter of 2026, versus consensus revenue of USD 19.34 billion and consensus earnings per share of USD 6.22, according to MarketBeat. Revenue increased 23.70 percent year over year, giving the upcoming report a demanding comparison.
Peer and valuation frame
Deere traded at USD 637.84 on October 20, 2026, up 1.73 percent, with a USD 172.0 billion market capitalization and a 35.44 price-to-earnings ratio. Cummins traded at USD 535.48, up 2.56 percent, with a USD 73.7 billion market capitalization and a 27.40 price-to-earnings ratio.
Price stays below the Xetra close
The euro quotation was EUR 648.70 at Lang & Schwarz on October 20, 2026 at 4:32 p.m. CEST, down 0.54 percent versus the Xetra close of October 19, 2026 at EUR 652.20. The next scheduled test is Caterpillar's third-quarter report on October 29, 2026. The further course of trading is shown by the continuously updated real-time quote of Caterpillar stock.
Caterpillar stock key figures
- Company: Caterpillar Inc.
- ISIN: US1491231015
- Ticker: CAT
- Primary exchange: NYSE
- Price Lang & Schwarz (as of October 20, 2026, 4:32 p.m. CEST): EUR 648.70
- Change versus Xetra close: minus 0.54 percent
- Xetra close (October 19, 2026): EUR 652.20
- Market capitalization: USD 335.4 billion (as of October 20, 2026)
- 52-week range: USD 510.21-1,073.46 (as of October 20, 2026)
- Sector / Industry: Producer manufacturing / Trucks, construction and farm machinery
- Next earnings date: October 29, 2026
Market context: Market report S&P 500.
