UBS Analyst Turns Bullish On Caterpillar - Read Why

  • UBS analyst Steven Fisher upgraded Caterpillar Inc. CAT to Buy from Neutral and raised the price target to $235 (an upside of 15%) from $232. 
  • Fisher thinks sentiment on the shares will improve as margins inflect and surprise to the upside during this upcycle. All three of Caterpillar's segments will grow over the next 2-3 years, and falling input costs and the removal of headwinds will create a "strong margin tailwind" for the company during the upcycle, leading to outsized margin performance.
  • He thinks "the coming inflection" is not being appropriately recognized by investors.
  • Credit Suisse analyst Jamie Cook raised the price target to $240 (an upside of 17.7%) from $239 and maintained an Outperform rating.
  • Morgan Stanley analyst Courtney Yakavonis raised the price target to $166 (a downside of 18%) from $165 and maintained an Underweight rating on the shares.
  • Price Action: CAT shares closed lower by 0.09% at $203.91 on Friday.
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