In 2024, the U.S. infrastructure landscape is overdue for a revival, with 44% of the nation’s bridges and 32% of urban roads demanding urgent repairs. With over $1 trillion in federal funds already earmarked for the effort, domestic demand for heavy machinery looks set to ramp higher. Elsewhere, China's aggressive stimulus package is not just breathing new life into its stock market; it’s also benefiting U.S. companies with ties to the massive Asian economy.
With its global presence, heavy machinery specialist Caterpillar Inc. (CAT) is well-positioned to capitalize on China's economic push. Moreover, Jefferies is upbeat on CAT stock, anticipating earnings growth from recovery in the energy and materials sectors, along with rising demand for green energy minerals.
