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Hedge Funds Are Buying Power From Caterpillar, (CAT) Says Jim Cramer
Jim Cramer highlighted that hedge funds are significantly investing in power products from Caterpillar Inc. (NYSE:CAT), contributing to the company’s strong performance. Caterpillar’s Power & Energy unit saw 23% annual growth, and Bank of America raised its price target for CAT to $825, noting demand for turbines beyond traditional data centers. Cramer believes data center buildout and power products demand are key drivers for Caterpillar’s success.