Market Overview

UPDATE: Goldman Sachs Downgrades Caterpillar to Neutral on Lack of Upside

Related CAT
Caterpillar Reports Retail Machine Sales Fell 10% Through November
What CEOs Are Saying About Washington Politics
Making Money With Charles Payne: 12/8/14 (Fox Business)

In a report published Wednesday, Goldman Sachs analyst Jerry Revich downgraded the rating on Caterpillar (NYSE: CAT) from Buy to Neutral, and lowered the price target from $116.00 to $101.00.

In the report, Revich noted, “We downgrade CAT to Neutral as we reduce our price target by 13% and our estimates by 11%. We are constructive on CAT's leading returns, structurally improved Construction Equipment margins, underappreciated margin tailwind from a weak Yen, and a solid cyclical outlook for global Construction Equipment and Rail capex (40% of sales). However, in an oversupplied commodity environment we no longer see upside to consensus earnings expectations, prompting the downgrade to Neutral.”

Caterpillar closed on Tuesday at $86.64.

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: Goldman SachsAnalyst Color Downgrades Analyst Ratings

 

Related Articles (CAT)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional