Power demand keeps 2027 growth thesis alive for Caterpillar
CAT•Caterpillar reaffirmed its annual sales growth forecast, with analysts citing data center power demand, a record backlog and expanding capacity; the median price target from 30 brokerages is $900.
1. Analysts see 2027 support
Caterpillar reaffirmed its annual sales growth forecast on Thursday, backed by strong data center power demand despite cost pressures and skepticism about AI. Analysts said its backlog and expanding power-generation capacity could support earnings growth and a stronger 2027 outlook, while flagging risks including a weaker industrial cycle and slower data center demand. The median price target among 30 brokerages covering the stock is $900.
