Market Overview

Bank of America Reiterates Neutral on Caterpillar on Weak February Sales

Share:
Related CAT
Most Of Credit Suisse's Top Investment Ideas For 2016...In One Place
Can A Healthcare Alliance Bring Down Healthcare Costs To Employers?
The Vetr community has upgraded $CAT to 3-Stars. (Vetr)

In a report published Wednesday, Bank of America analyst Ross Gilardi reiterated a Neutral rating and $104.00 price target on Caterpillar (NYSE: CAT).

In the report, Gilardi noted, “Caterpillar released its Caterpillar released its trailing 3-month Dealer Statistics for February. World machine sales declined 13%, compared to the 4% decline in January. February marks the lowest growth rate in 35 months. Total engine sales declined 7%, in line with the 7% decline in the prior month. In our view, the data suggests that February's end-user demand was particularly weak relative to December and January.”

Caterpillar closed on Tuesday at $88.27.

Latest Ratings for CAT

DateFirmActionFromTo
Jan 2016Credit SuisseMaintainsOutperform
Jan 2016Goldman SachsDowngradesNeutralSell
Jan 2016BarclaysMaintainsEqual-weight

View More Analyst Ratings for CAT
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CAT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters