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Fly News Breaks for December 5, 2016
CAT
Dec 5, 2016 | 08:32 EDT
JPMorgan analyst Ann Duignan raised her price target for Caterpillar to $89 from $78 despite lowering her estimates to reflect management's reduced 2017 outlook. The analyst does not anticipate a V-shaped recovery in any of the key markets driving Caterpillar's earnings. She remains cautious on the stock's valuation and keeps a Neutral rating on the shares.
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