Market Overview

UPDATE: Credit Suisse Lowers PT on Caterpillar

Share:
Related CAT
Top 4 NYSE Stocks In The Farm & Construction Machinery Industry With The Lowest PEG Ratio
Caterpillar and Modustri to Collaborate on Equipment Monitoring Technology

Credit Suisse reiterated its Outperform rating on Caterpillar (NYSE: CAT) but lowered its price target from $117 to $108.

Credit Suisse noted, "CAT's stock held up yesterday on low expectations despite lowering 2012 EPS and providing its first take on 2013, calling for a "flattish" sales year. However, CAT continues to execute, address its inventory issue and, more importantly, maintains its positive view on global growth over the long term, implying 2013 is just a mid-cycle pause. … Despite investor concerns, mining does not appear to be falling apart, noting there haven't been more material cancellations and calling for 2013 mining capex to be down ~5-10%. We lower our 2012-2015 est.'s to $9.25 (from $9.60), $8.65 (from $10.50), $9.90 (from $11.20) and $11.90."

Caterpillar closed at $85.08 on Monday.

Latest Ratings for CAT

DateFirmActionFromTo
Jun 2015Societe GeneraleInitiates Coverage onBuy
Jun 2015SocGenInitiates Coverage onBuy
May 2015CitigroupMaintainsNeutral

View More Analyst Ratings for CAT
View the Latest Analyst Ratings

Posted-In: UPDATE: Credit Suisse Lowers PT to $108 on Caterpillar Post Earnings ReportAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CAT)

Around the Web, We're Loving...

Get Benzinga's Newsletters