Caterpillar Inc. (CAT) Upgraded By Morgan Stanley
By Daniel James Hayden IV
February 09, 2010 9:19 AM
February 09, 2010 9:19 AM
Morgan Stanley (NYSE: MS) upgraded its rating of Caterpillar Inc. (NYSE: CAT) from Underweight to Overweight and raised Caterpillar 's price target from $51 to $70.
"We are now more bullish than consensus on both the pace of cyclical acceleration and on CAT's ability to deliver on its structural transformation and, potentially, $8 to $10 in earnings," said analyst Robert Wertheimer.
It marked the first time in three years of coverage that Morgan Stanley has been positive about Caterpillar Inc.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
