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Fly News Breaks for April 22, 2015
CAT
Apr 22, 2015 | 10:47 EDT
After Caterpillar reported that its retail machine sales dropped 12% in the March end three-month period, which was 1 point worse than the February decline, Wells Fargo said that the retail sales report as well as the firm's checks on regional price competition and currency headwinds appear negative for its earnings power. The firm maintains its Market Perform rating on Caterpillar, which is scheduled to issue its Q1 report tomorrow morning.
News For CAT From the Last 2 Days
CAT
Apr 16, 2024 | 07:24 EDT
JPMorgan raised the firm's price target on Caterpillar to $435 from $385 and keeps an Overweight rating on the shares ahead of the Q1 report. Construction data points are mixed, but demand commentary from manufacturers is generally optimistic, the analyst tells investors in a research note. The firm expects Caterpillar's multiple re-rating to continue on the back of resilient margin performance this year and expectations of earnings growth acceleration in 2025.
