Caterpillar Lower After Goldman Sachs Dowgrade

Caterpillar Inc 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 issues recent slide was made on Wednesday at $56.26.