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Fly News Breaks for August 18, 2016
CAT
Aug 18, 2016 | 11:30 EDT
Jefferies analyst Stephen Volkmann says Caterpillar's retail sales "remain sluggish across the board" after the company reported dealer sales for July. Continued weakness in dealer sales underscores the urgency of Caterpillar's restructuring plans, Volkmann tells investors in a research note. He keeps a Hold rating on the shares with a $72 price target.
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.
