Freedom Broker analyst Sergey Glinyanov raised the price target on Caterpillar (NYSE: CAT) to $980.00 (from $910.00) while maintaining a Hold rating.

The analyst comments "Caterpillar delivered a structurally strong Q2 2026 print with record quarterly sales, broad-based segment outperformance, and an upgraded full-year sales and margin outlook, while actively managing a still-material tariff headwind. At current elevated multiples, we view CAT as a high-quality cyclical beneficiary of secular investment, but with obviously growing sensitivity to the sustainability of AI/data center sentiment. We raise our PT to $980 and reiterate a HOLD rating."