UPDATE: Atlantic Equities Downgrades Caterpillar on Lack of Catalysts

In a report published Friday, Atlantic Equities analyst Richard Radbourne downgraded the rating on

from Overweight to Neutral, and lowered the price target from $100.00 to $92.00. In the report, Atlantic Equities noted, “It is difficult to downgrade CAT shares at the current level given resilience in the low-mid $80s despite substantial reductions to FY14 EPS expectations. Moreover, there is attractive upside potential WHEN visibility into an EPS rebound materialises. However, with less conviction in FY14 after Q313 results we are moving to the sidelines in the absence of catalysts. PT to $92 from $100.” Caterpillar closed on Thursday at $84.53.