Caterpillar Inc. (CAT) Soars On Upgrade By Morgan Stanley (MS)

Caterpillar Inc. (NYSE: CAT), the largest producer of bulldozers across the world, climbed by 6.4% by mid-day trading on Tuesday, after the stock was upgraded to “overweight” from “underweight” by Morgan Stanley (NYSE: MS). Morgan Stanley (MS) has raised its target price for Caterpillar Inc. (CAT) to $70 from $51, by a substantial 37.25%.

Caterpillar Inc. (CAT), which soared the highest on Tuesday amongst the Dow components, is likely to face its next resistance at around $54.71, which is its 20 day MA.