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Fly News Breaks for April 25, 2018
CAT
Apr 25, 2018 | 07:06 EDT
JPMorgan analyst Ann Duignan lowered her price target for Caterpillar to $176 from $200 following the company's Q1 results and keeps an Overweight rating on the shares. Management's raised 2018 adjusted earnings guidance assumes Q1 will be the "high water mark" for the year with lower margins for the remainder of 2018, Duignan tells investors in a post-earnings research note. The analyst views yesterday's selloff on "seemingly cautious (though much improved) guidance" as a buying opportunity. She acknowledges, however, that Caterpillar is likely to trade with macro data in the near term.
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