UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Caterpillar on Lowered 2013/2014 Earnings Estimates - Caterpillar (NYSE:CAT)

27% profit every 20 days?

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In a report published Wednesday, Jefferies analyst Stephen Volkmann reiterated a Hold rating on Caterpillar (NYSE: CAT), but lowered the price target from $95.00 to $75.00.In the report, Volkmann noted, “We are lowering our 2013/2014 and introducing a 2015 earnings estimate well below current consensus forecasts. With miner capital spending plans indicating a multi-year decline, we are projecting three years of minimal earnings growth as lower mining offsets growth in construction. We maintain our Hold rating and are reducing our PT to $75 on the reduced forecast.”Caterpillar closed on Tuesday at $82.61.

27% profit every 20 days?

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