Caterpillar stock forecast shows resilience amid cyclical

Caterpillar stock forecast shows resilience amid cyclical headwinds, with Q1 2024 EPS projected at $5.10, supported by strong construction demand in North America and expanding mining equipment orders. Analysts monitor commodity price trends as a key performance driver. Caterpillar Inc. (NYSE:CAT)’s strategic initiatives and healthy cash flow management are expected to help the company tackle challenges in the competitive market. BofA Securities has an optimistic outlook on the mining industry, hinting at the strong demand for Caterpillar Inc. (NYSE:CAT)’s products and services. Looking at the earnings estimate revisions for Caterpillar, the Zacks Consensus Estimate for the current year has increased 0.6% over the past month to $18.8. Caterpillar stock forecast remains bullish with consensus target around $305, driven by record machinery sales in Asia-Pacific, although investor sentiment is cautious over slowing housing starts in China.