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Caterpillar EPS Estimates Slashed Again For 2013 and 2014

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Ted Grace, an analyst for Susquehanna, lowers his 2013 EPS estimate to $7.45 from $8.00 and his 2014 EPS estimate to $8.40 from $9.05.

Grace lowered his estimates based on conversations with clients and after meetings with Caterpiller (NYSE: CAT), Joy Global (NYSE: JOY) and Komatsu.

Grace also lowered his price target to $109, from $118 and sees shares range-bound until mining confidence returns.

CAT is currently unchanged in pre-market trading.

Latest Ratings for CAT

DateFirmActionFromTo
Sep 2016OTR GlobalDowngradesPositiveMixed
Jul 2016JefferiesMaintainsHold
Jul 2016CitigroupMaintainsNeutral

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