Caterpillar Is Up 21% Year to Date in 2026. Here’s Where the Stock Could Go Next

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Caterpillar Inc. stock has risen 21% year-to-date in 2026, trading near $695 per share, driven by strong backlog, infrastructure demand, and growing services. Despite some institutional profit-taking, the company’s diversified market exposure and pricing discipline support stable earnings. A valuation model suggests the stock is modestly undervalued with a target price of $877, implying a 25% upside.

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