Caterpillar’s CEO Says Demand Runs Past Its $72B Backlog. Here’s What That Means for the Stock

Key Stats for Caterpillar StockCurrent Price: $808. 99Target Price (Mid): ~$1,050Street Target: ~$980Potential Total Return: ~30%Annualized IRR: ~6% / yearWhat Happened?Caterpillar (CAT) supplies the engines and turbines increasingly running data centers as permanent power plants, not backup, and its CEO just told investors that the shift is the durable one.