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UPDATE: Bank of America Merrill Lynch Reiterates Neutral Rating, Raises PT on Caterpillar

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In a report published Wednesday, Bank of America Merrill Lynch reiterated its Neutral rating on Caterpillar (NYSE: CAT), and raised its price target from $92.00 to $100.00.

BofA Merrill Lynch noted, “As the global leader, CAT is a global powerhouse in mining, construction, and power systems equipment. CAT is very well positioned for the long-term, but the slower earnings trajectory that we foresee in coming years due to fading momentum in mining equipment demand and a softer construction equipment outlook will likely limit the stock's multiple expansion potential, in our view.”

Caterpillar closed on Tuesday at $94.54.

Latest Ratings for CAT

DateFirmActionFromTo
Sep 2014Bank of AmericaDowngradesBuyNeutral
Aug 2014ISI GroupUpgradesNeutralBuy
Jul 2014Tigress FinancialUpgradesUnderperformNeutral

View More Analyst Ratings for CAT
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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