CAT-6%
Caterpillar Inc.
Makes construction and mining machines, engines and gas turbines, sold through dealers and financed by Cat Financial.
Machinery · Target $695.00Latest: Earnings preview, Oct 17, 2026
Theme
Power generation stocks
Companies building or supplying new sources of electricity, from gas turbines to advanced nuclear. We look at order books, what new capacity costs per kilowatt, and how long licensing takes.
- Companies covered
- 2
- Our ratings
- Buy 0Hold 1Sell 1
- Median implied return
- -20%
- Latest research
- Oct 17, 2026
Companies
By implied returnOKLO-35%
Oklo Inc.
Developing 75 MWe Aurora fast-reactor powerhouses that it plans to build, own and operate, selling the power under long-term contracts.
Nuclear · Target $21.00Latest: Initiation, Oct 13, 2026
Latest research
Caterpillar 3Q26 preview: power carries the quarter, but the destock caps the upside
We expect 3Q26 adjusted EPS of $6.93, 1% below the $7.03 consensus, on revenue of $20.4bn. Hold and $695 target unchanged. This is a sample quarterly update with illustrative figures.
Caterpillar: the record backlog is real, but the price already pays for it
Caterpillar’s $72bn backlog (+92% y/y) and data-center power demand are genuine, but at 23.1x our FY27E EPS of $31.81 the shares pay for them in full while margins sit at a cycle high. We initiate at Hold with a $695 target.
Oklo: the price already assumes near-certain fleet success
Oklo will build, own and operate 75 MWe Aurora fast-reactor powerhouses. At $32.21 and a 13% discount rate the shares need roughly a 100% chance of fleet success; we use 50% and set a $21 target.