Caterpillar’s (NYSE: CAT) stock will top $650 by year’s end because its solid growth is underpinned by AI demand. That’s right, Caterpillar, industrial giant that it is, is an AI play whose stock price uptrend has legs. Not only does this company use AI internally to improve operational quality, but it also provides AI-enabled services to its clients, and AI demand is driving the business.
Among the critical takeaways from the Q3 release is that the 9.3% revenue growth, nearly 500 basis points of outperformance relative to MarketBeat’s reported consensus, and the optimistic outlook are driven by a 17% year-over-year (YOY) surge in the Energy & Transportation segment.
