Northland analyst Michael Latimore points out that Caterpillar (CAT), which cut its revenue outlook yesterday, is quickly becoming a top customer at CalAmp (CAMP). The analyst estimates the annual opportunity at Caterpillar is about $30M to CalAmp when fully deployed. While the total opportunity could be reduced a few millions on an annual basis following Caterpillar's guidance cut, CalAmp still has a "substantial growth" opportunity at the company, Latimore tells investors in a research note. He keeps an Outperform rating on CalAmp with a $28 price target.