Caterpillar's Restructuring Produces Significant Gains
We are raising our fair value estimate for Caterpillar to $178 per share from $125. Much of this increase is due to substantial operating performance improvements in the past two quarters aligned with management’s clearly articulated strategy. Hence, our opinion of Caterpillar’s long-term prospects has improved significantly. With this new information in hand, we currently view the stock as undervalued.Under the leadership of Jim Umpleby, who became CEO in 2017, Caterpillar has significantly im...
Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company segments include: Construction Industries, which supports customers using machinery in infrastructure, forestry and building construction; Resource Industries, which supports customers using machinery in mining, heavy construction, quarry and aggregates, waste and material handling applications; Energy and Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat? machines; and Financial Products, which provides financing and related services.
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