Caterpillar shares have been leading the early year rally as analysts expect the global economy to pick up steam, as China’s did after its lockdown ended. The Barron’s story, for instance, tells investors to buy CAT when its price-to-earnings ratio is low, and sell when its P/E is high. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When inflation rears its head, the first thing analysts do is rush to buy Caterpillar (NYSE:CAT) stock.