UBS Keeps Neutral on Caterpillar (CAT); 2026 EPS Outlook Splits Bulls and Bears

Caterpillar Inc. (NYSE:CAT) ranks among the stocks to benefit from an onshoring boom. On July 23, UBS retained its $357 price target and Neutral rating on Caterpillar Inc. (NYSE:CAT). Investor interest in Caterpillar’s 2026 earnings per share estimate is growing, according to UBS analyst Steven Fisher, with bulls expecting $22-23 EPS and bears predicting $17-18 EPS.

With construction being a major swing factor for 2026 performance, the firm’s position on Caterpillar Inc. (NYSE:CAT) has shifted from being more cautious over the previous two years to become more balanced.

From a new investment standpoint, UBS anticipates that the mining cycle will stay largely steady in 2026, while oil and gas prices may stabilize at lower levels as a result of the current stability of oil prices.

Caterpillar Inc. (NYSE:CAT), often referred to as CAT, is a leading American manufacturer of construction, mining, and engineering equipment. The company is a key player in the industry, having been recognized as the world’s largest maker of construction equipment.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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