Caterpillar downgraded to Neutral from Overweight at JPMorgan JPMorgan downgraded Caterpillar citing continued pressure in the mining sector and potential pressure in the U.S. coal and energy sectors following Obama's reelection. Price target lowered to $90 from $109.
Chanos says heavy equipment companies 'have the wind in their face' Jim Chanos of Kynikos Associates said on CNBC that the companies selling heavy equipment will "have the wind in their face" for years as inventory is worked though. Chanos added that he remains short shares of Caterpillar (CAT), pointing out the company acquired Bucyrus at the top of the market. Peers of Caterpillar include Deere (DE) and AGCO (AGCO).