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Fly News Breaks for April 23, 2018
CAT
Apr 23, 2018 | 07:06 EDT
Citi analyst Timothy Thein upgraded Caterpillar to Buy from Neutral while lowering his price target for the shares to $180 from $185. The shares can outperform over the next 6-12 months on positive estimate revisions, increased capital returns and improving China macro data points, Thein tells investors in a research note. He sees operating leverage remaining a key source of differentiation for Industrials and expects Caterpillar's incrementals "will put it on the winning side in 2018."
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