UPDATE: Raymond James Reduces Caterpillar's PT

Loading...
Loading...
According to a research report published earlier today, Raymond James has lowered Caterpillar Inc.'s
CAT
PT from $140 to $130. In the report, Raymond James commented, “February's dealer stats lead us to believe that 1Q12 sales may not be another ‘blow-out' quarter for the company, which has beat expectations for over a year. While solid, February's respective Machinery and Engines sales growth decelerated sequentially to 21% and 13% (from 27% and 22% in January). We believe this can be explained in part by lapping strong y/y comps. We believe it is also due to some sales being pulled forward into 4Q11 before the expiration of certain tax incentives in 2011 and the introduction of Tier 4 standards in 2012. While dealer stats provide a good directional indicator of sales, they cannot, in isolation, predict demand for CAT's product.” Raymond James maintains its Outperform rating on Caterpillar, which closed yesterday at $110.76.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsRaymond James
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...