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Stock Market & Financial Investment News

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January 18, 2013
11:13 EDTCATCaterpillar rises after China data, Piper Jaffray upgrade
Caterpillar (CAT) is advancing after China reported better than expected economic data earlier today, and a research firm upgraded the stock. China's fourth quarter GDP growth and its retail sales and industrial output for December all slightly exceeded analysts' expectations. China accounts for only a few percent of Caterpillar's revenue but had been seen as a growth engine for the company before slowing last year. In a note to investors earlier today, Piper Jaffray analyst Alexander Potter upgraded Caterpillar to Overweight from Neutral. Investors' concerns about a build-up of machine inventory in China and shaky demand for mining equipment due to a reduced appetite for raw materials in that country have faded, Potter believes, after conducting extensive research. The better than expected Chinese data and strong U.S. housing starts provide additional support for this thesis, according to the analyst, who raised his price target on Caterpillar to $113 from $85. In late morning trading, Caterpillar rose 0.43% to $96.11.
News For CAT From The Last 14 Days
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September 12, 2014
09:31 EDTCATCaterpillar view lowered to Mixed from Positive at OTR Global
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September 10, 2014
10:00 EDTCATOn The Fly: Analyst Downgrade Summary
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09:14 EDTCATUpdate: Caterpillar downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Caterpillar to Neutral from Buy. The firm downgraded shares to reflect a slowdown in growth outside the U.S., a stronger U.S. dollar, easing ECB monetary policy, slowing Chinese import growth, and recessionary pressures in Brazil. Price target lowered to $121 from $125.
09:04 EDTCATCaterpillar downgraded to Neutral from Buy at BofA/Merrill
07:49 EDTCATLongbow to hold a conference
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September 4, 2014
13:59 EDTCATProgress Rail loses railcar improvement deals, WSJ says
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