Caterpillar shares gained as an analyst at Jefferies upgraded the rating to buy from hold and raised the target price from $215 to $260. The analyst added that this sets the stage for long-term outperformance for Caterpillar, which has historically been considered a “strong hedge” to commodity and general inflation. Caterpillar (CAT) shares rallied 6.8% in the last trading session to close at $210.