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Deutsche Bank Initiates Coverage On 17 U.S. Machinery Stocks

Deutsche Bank Initiates Coverage On 17 U.S. Machinery Stocks

Deutsche Bank initiated its coverage on the U.S. machinery sector with a cautious view. Analysts Nicole DeBlase and Saree Boroditsky believe natural resource markets have bottomed. However, they expect the industry to record only low-single-digit organic growth until the year 2020.

The brokerage picked up Caterpillar Inc. (NYSE: CAT) as the top pick, citing gains from restructuring. In all, 17 companies' shares were initiated with coverage. Of these, only three stocks merited a Buy rating, while two stocks are rated at Sell. The remainder elicited Hold ratings.

Deutsche Bank pointed out that machinery volume remained lackluster while industry organic growth is not inspiring. The brokerage believes that the low-single-digit growth would continue in the next two to four years.


The following stocks are rated as Buy:

  • Caterpillar, $98 price target.
  • Oshkosh Corp (NYSE: OSK), price objective of $62.
  • Westinghouse Air Brake Technologies Corp (NYSE: WAB), price target of $90.

Related Link: Gordon Johnson On Sell-Rated Caterpillar: You Can't Fool All The People All The Time


The brokerage initiated Hold rating on the following stocks:

  • Deer & Company (NYSE: DE), $90 price target.
  • PACCAR Inc (NASDAQ: PCAR), $63 price target.
  • United Rentals, Inc. (NYSE: URI), $79 price target.
  • WABCO Holdings Inc. (NYSE: WBC), $113 price target.
  • Allison Transmission Holdings Inc (NYSE: ALSN), $30 price target.
  • AGCO Corporation (NYSE: AGCO), $54 price objective.
  • Terex Corporation (NYSE: TEX), $26 price tag.
  • Navistar International Corp (NYSE: NAV), $14 price target.
  • Manitowoc Company Inc (NYSE: MTW), $5 price objective.
  • Middleby Corp (NASDAQ: MIDD), $123 price tag.
  • Graco Inc. (NYSE: GGG), $83 price target.
  • Lincoln Electric Holdings, Inc. (NASDAQ: LECO), $70 price objective.

Related Link: Deutsche Bank Initiates CNH Industrial With Sell Rating


The following shares are rated at Sell:

  • Cummins Inc. (NYSE: CMI), $111 price target.
  • CNH Industrial NV (NYSE: CNHI), $6 price tag.

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Latest Ratings for CAT

Apr 2021Deutsche BankMaintainsBuy
Apr 2021Wolfe ResearchInitiates Coverage OnOutperform
Apr 2021Morgan StanleyMaintainsUnderweight

View More Analyst Ratings for CAT
View the Latest Analyst Ratings


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