Caterpillar (CAT) is trading at $594.31 after a 1.76% daily drop, with price still below its 20-day and 50-day moving averages. Evercore ISI cut its price target to $833 from $1,045 on November 10,...

Caterpillar (CAT) is dealing with a notable reset in expectations after David Raso at Evercore ISI lowered the price target to $833 from $1,045 on November 10, 2026, while maintaining an Outperform rating. That matters because it reduces the distance between the current share price and the broker’s view of fair value, even though the call remains constructive. The target revision is the only fundamental/analyst input provided here, so it should be read as a sentiment and valuation update rather than a full consensus change.

CAT is at $594.31, down 1.76% on the day, and trading below the 20-day SMA at $624.21 and the 50-day SMA at $724.27. The 7-day SMA at $581.23 sits below spot, so the very short-term tone has improved from the immediate trend, but the broader structure is still capped by the heavier averages. The 12-day EMA at $600.86 and 26-day EMA at $641.90 reinforce that the stock is trying to stabilize inside a still-soft intermediate trend.

53 is in neutral territory but close enough to oversold conditions to support a bounce narrative rather than a strong downside impulse. 0413 versus a matching signal line, with a zero histogram, which points to stalled momentum rather than a clean trend break. 49 for %D also suggest the stock has room to recover, but not enough evidence yet to call the downtrend finished.

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