Caterpillar's target price has been raised: Institutional investors are optimistic about profit prospects due to demand recovery and tariff advantages.

Well-known investment bank Oppenheimer has raised the target price of construction and mining equipment manufacturer Caterpillar from $395 to $483. This latest target price is 17% higher than Caterpillar's last closing price. Oppenheimer also maintains an "outperform" rating on the stock.