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PEORIA, Ill. (AP) - Caterpillar Inc.'s top executive says the heavy equipment maker is poised to benefit from a global economic recovery.

CEO Jim Owens told analysts gathered at the company's Peoria headquarters today that the largest maker of mining and construction equipment expects the world economy to improve.

But he says the timing of the recovery remains uncertain.

Caterpillar says it anticipates profit of $8 to $10 per share within five years if the world economy recovers and $2.50 per share annually if the recession drags on.

Shares of Caterpillar climbed $2.77, or 6.1 percent, to close at $47.89.