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Following the publication of presentation slides at the Credit Suisse Industrial Conference on Thursday, shares of Caterpillar Inc. (NYSE: CAT) showed a knee-jerk reaction to comments referring to an estimated 2017 EPS of $3.25 as being “too optimistic.” The shares leveled off by the market close, though, even trading slightly up.
According to Deutsche Bank analyst Nicole DeBlase, she “fully expected” shares to trade off on the news. The lack of lasting response reinforces her view that investors are “completely willing to look through 2017 trough earnings, in hope of recovery in 2018 and beyond,” said DeBlase.
Rating And Brief Commentary
The analyst maintains a Buy rating on the stock and $102 price target.
The biggest takeaway from the conference, according to Deblase, was the fact that investors are willing to overlook 2017, but highlighted upcoming guidance risk for other industrials, including:
- AGCO Corporation (NYSE: AGCO).
- PACCAR Inc (NASDAQ: PCAR).
- Wabco Holdings Inc. (NYSE: WBC).
At last check, Caterpillar shares were down 0.29 percent at $95.96.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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