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.
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).