CAT
Caterpillar at 45x earnings: a 160% one-year rally, and an analyst panel that keeps raising targets to catch up
Revenue +22.2%. FCF margin 5.3%. ROE 51.3%. Financial Scorecard: 2 of 4 strong. P/E 45.3 — high for an industrial cyclical. CAT trades 2% below its 52-week high. 18 analysts: 62% Buy, 31% Hold, 7% Sell — average target $760.69 vs current $908.55. Implied 'upside' is negative; recent visible updates were almost all big raises.
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