According to Morgan Stanley, Caterpillar TX Overweight rating is reiterated.
Morgan Stanley said that a slew of favorable economic data since CAT's last communication with the Street should allow management to maintain its bullish tone during the quarterly release, which has been a key focus of investor debate. “We look for EPS of $1.76 including the impact of the Bucyrus acquisition. Our revenue estimate of $15.8 bn implies 23% y/y growth, down from 41% last quarter.”
Caterpillar closed yesterday at $105.64.
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