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Caterpillar Remains a Buy Following Strong Earnings Report -Breaking

by Mike Robinson

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© Reuters. After Strong Earnings Report, Caterpillar remains a buy

Caterpillar (NYSE:) One of the most prominent mobile machine manufacturers worldwide is CAT. The strong recovery in commodities and the growth of CAPEX should make CAT one the most popular stocks in the coming years. After its impressive Q3 report, CAT is still a good buy.Caterpillar (CAT(*()It is one of world’s leading manufacturers mobile machinery. The company’s stock price is often considered a proxy for global growth. Post-pandemic economic recovery has brought CAT positive results. These include higher infrastructure spending levels, strong housing markets, increased CAPEX, and a stronger industrial sector. As a result, CAT’s stock is up more than 130% from its lows in March 2020.

Despite these gains, the stock remains attractively priced with a price-to-earnings ratio (P/E) that is below the S&P 500. From a risk-reward perspective, the 20% decline in stock prices is a solid entry point. Long-term fundamentals continue to be bullish.

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