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Fly News Breaks for April 25, 2018
CAT
Apr 25, 2018 | 09:21 EDT
As previously reported, Daiwa analyst Jairam Nathan downgraded Caterpillar to Neutral from Outperform and lowered his price target on the stock to $160 from $180 to reflect a lower multiple on the shares. While he raised his 2018 EPS estimate following the company's Q1 earnings report, he fears Caterpillar may be close to its peak earnings level in the current cycle. He also raised his 2019 estimates, but sees risks to 2019 from a peak in China's construction market and rising costs, Nathan tells investors.
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