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CAT

Caterpillar

$97.25

1.69 (1.77%)

11:16
12/01/16
12/01
11:16
12/01/16
11:16

Caterpillar says consensus FY17 EPS view of $3.25 'too optimistic'

Caterpillar Group President of Resource Industries Denise Johnson and Director of Investor Relations Amy Campbell will present at a Credit Suisse Industrials Conference, scheduled to begin at 11:15 a. EST, the company confirmed in a regulatory filing. In slides for the presentation, the company states: "In our view, [the Thomson First Call Consensus for FY17] of $3.25 on $38B of sales and revenues is too optimistic considering expected headwinds." Additionally, the slides state: "In our view, $38B is a reasonable midpoint expectation" for 2017 sales and revenues. The slides add: "Net of headwinds & tailwinds, we remain committed to decrementals of 25-30%, excluding restructuring costs."

  • 01

    Dec

CAT Caterpillar
$97.25

1.69 (1.77%)

10/11/16
10/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Hold from Sell at Evercore ISI with analyst Ken Sena citing the recent pullback in the shares. 2. Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying he thinks that the company's "strong underlying fundamentals" should enable its fiscal 2017 profits to beat expectations, and he says that the shares are undervalued. 3. Virgin America (VA) upgraded to Neutral from Underweight at JPMorgan with analyst Jamie Baker saying regulatory approval of the pending Alaska Air (ALK) takeover "remains more likely than not." 4. Cummins (CMI) was upgraded to Conviction Buy from Neutral and Caterpillar (CAT) was upgraded to Buy from Neutral at Goldman. 5. Carbonite (CARB) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Schwartz saying he sees "substantial upside" from current levels due to valuation and fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/11/16
DBAB
11/11/16
NO CHANGE
Target $102
DBAB
Buy
Deustche says infrastructure upside not fully priced into Machinery names
Deutsche Bank analyst Nicole DeBlase expects infrastructure stimulus to be more of a 2018 "earnings tailwind" with legislation unlikely until the spring of 2017 at the earliest. She's skeptical that the rally in Machinery stocks can continue for an extended amount of time, but feels only 50% of the total benefit has been priced in, to date. Caterpillar (CAT) is the best way to play a U.S. infrastructure stimulus, DeBlase tells investors in a research note. She raised her price target for the shares to $102 from $95. The analyst also raised her price target for Buy-rated Oshkosh (OSK) to $72 from $65, for Hold-rated Deere (DE) to $95 from $90 and for Sell-rated CNH Industrial (CNHI) to $7.20 from $6.24.
11/18/16
OTRG
11/18/16
NO CHANGE
OTRG
Mining Equipment sector upgraded to Positive from Mixed at OTR Global
OTR Global upgraded the Mining Equipment sector to Positive following checks with industry executives that indicate improving conditions for coal and copper miners during the past 90 days driven by an uptick in commodity prices.
12/01/16
DBAB
12/01/16
NO CHANGE
Target $102
DBAB
Buy
Deutsche still sees Caterpillar as top pick after election rally
Deutsche Bank analyst Nicole DeBlase said the Machinery group could be due for a breather following its 12% post-election rally, but she still views Caterpillar as her top pick on a relative basis given her "very high conviction" that EPS is bottoming. The analyst, who sees a combination of restructuring, a recovery in mining and infrastructure stimulus to drive EPS growth in 2017, keeps a $102 price target on Caterpillar shares.

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