Caterpillar Lower After Goldman Sachs Downgrade
Caterpillar Inc. (NYSE: CAT) shares are trading lower by $2.50 at $58.48 in Monday's session. The catalyst for the decline is a downgrade by Goldman Sachs from Neutral to Sell. The firm did not disclose a price target.
After a lower open, it could not reach the lower end of Friday's range ($60.60), coming up way short by only reaching $59.35.
The issue is attempting to stabilize in the area of Thursday's low ($58.25), reaching $58.32 and rebounding.
The low for the issue's recent slide was made on Wednesday at $56.26.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.