Caterpillar shares unlikely to rise much further, says Wells Fargo After Caterpillar reported stronger than expected results and announced a $1.7B share repurchase program, Wells Fargo thinks the subsequent bounce in the stock was driven mostly by the repurchase announcement. The firm does not expect the shares to rise much further until the company's end markets improve. It keeps a Market Perform rating on the stock.
Caterpillar sales trends suggest 'muted' 2015 outlook, says Wells Fargo Wells Fargo says Caterpillar's November retail sales trends were weak with growth trends decelerating from October in all segments. Wells believes weakening demand trends suggest Caterpillar may provide "a muted" outlook for 2015, and the firm stays below consensus with its 2015 expectations. Wells has a Market Perform rating on Caterpillar.