Caterpillar (CAT)’s So Amazing Your Eyes Will Burn, Says Jim Cramer
We recently published 10 Stocks on Jim Cramer’s Radar. Caterpillar Inc. (NYSE:CAT) is one of the stocks on Jim Cramer’s radar.
Shares of construction equipment giant Caterpillar Inc. (NYSE:CAT) are up 115% over the past year and 27% year-to-date. Baird approached the company in late January about raising its stock price target to $805 from $680. This news follows Caterpillar Inc.’s (NYSE:CAT) fiscal fourth-quarter earnings report. During the quarter, the firm had revenue of $19.1 billion and earnings of $5.16 per share. The CEO’s accompanying comments followed a theme Cramer has long discussed for the firm. The CNBC TV host has repeatedly suggested that Caterpillar Inc. (NYSE:CAT) is poised to benefit from the growing data center construction boom, and the firm’s CEO, Joe Creed, has commented that data center operators are turning to on-site energy production. Jefferies discussed the stock ahead of earnings. He raised his price target on the stock to $750 from $700 and maintained a Buy rating on the stock. The bank commented that Caterpillar Inc. (NYSE:CAT) is heading towards a positive pattern in terms of earnings. Cramer praised the company’s performance:
“Have you looked at Caterpillar? Oh my god, don’t look too closely in here, your eyes will burn, it’s really cool.”
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