BUZZ-BofA hikes Caterpillar PT; shares rise
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BofA Global Research has raised its price target on Caterpillarto $594 from $517, maintaining a "buy" rating. This new target reflects a 12.6% premium from the stock's last close. Caterpillar shares rose nearly 1.5% to about $535 in morning trading. Despite facing turbine supply constraints and weak demand, BofA sees potential upside from aftermarket strength and capacity investments. The stock is up 45.4% year-to-date, with 14 of 28 brokerages rating it "buy" or higher.
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