CAT - Analysts Forecast 22% Surge For This 'Dividend Aristocrat' Amid Economic Uncertainty | Benzinga
Despite the global economic uncertainty, Caterpillar Inc. (NYSE:CAT), a leading industrial firm, is being eyed as a promising investment. Analysts are forecasting a potential 22% rally in the company’s stock.
What Happened: With geopolitical tensions and high inflation causing market volatility, investors are turning to “Dividend Aristocrats,” such as Caterpillar Inc., for stability. These S&P 500 Index components have consistently increased their annual dividends for at least 25 consecutive years, making them a popular choice among investors, Barchart reported on Thursday.
Caterpillar Inc., established in 1925, is a globally recognized company that designs, manufactures, and markets construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and locomotives. The company’s stock has seen a 21.1% increase on a YTD basis, significantly outperforming the broad market.
Analysts maintain a positive outlook on the stock, giving it an overall rating of “Moderate Buy.” Among the 21 analysts covering CAT, 7 rate it as “Strong Buy,” 1 as “Moderate Buy,” 11 as “Hold,” and 2 as “Strong Sell,” the report added.
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