Market Overview

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

Related CAT
Caterpillar CEO On The Impact Of Oil
Caterpillar Reports Retail Machine Sales Fell 10% Through November
Making Money With Charles Payne: 12/23/14 (Fox Business)

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
Nov 2014Stifel NicolausInitiates Coverage onBuy
Oct 2014CitigroupMaintainsNeutral
Oct 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for CAT
View the Latest Analyst Ratings

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

 

Related Articles (CAT)

Around the Web, We're Loving...

Get Benzinga's Newsletters