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CAT

Caterpillar

$103.84

0.37 (0.36%)

06:04
06/23/17
06/23
06:04
06/23/17
06:04

Caterpillar downgraded to Hold on rising expectations at Deutsche Bank

Deutsche Bank analyst Nicole DeBlase downgraded Caterpillar to Hold from Buy telling investors risks are skewed to the downside as consensus estimates have risen and the recovery in mining A/M and incremental cross-cycle margin improvement are reflected in expectations. DeBlase expects Caterpillar to deliver another substantial earnings beat in Q2 but said the scope of earnings revisions for the second half have diminished. As a result, the analyst sees risk of multiple contraction and lowered Caterpillar's price target to $106 from $121.

CAT Caterpillar
$103.84

0.37 (0.36%)

05/11/17
05/11/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Caterpillar (CAT) upgraded to Buy from Neutral at BofA/Merrill with analyst Ross Gilardi saying monthly retail sales continue to accelerate and views valuation as much more reasonable. Gilardi believes the company could have another big beat and raise in July and could raise the dividend over the summer. 2. Yum! Brands (YUM) upgraded to Neutral from Sell at Goldman Sachs with analyst Karen Holthouse saying her primary bear thesis, or continued weakness in China comps, has largely played out. She's increasingly positive on Taco Bell and sees limited near-term negative catalysts. 3. Symantec (SYMC) upgraded to Overweight from Equal-Weight at First Analysis with analyst Howard Smith saying he views the recent selloff as a buying opportunity and has increased confidence in the company's long-term growth following its fourth quarter results. 4. Snap (SNAP) upgraded to Outperform from Perform at Oppenheimer and to Neutral from Underweight at Cantor. 5. Electronic Arts (EA) upgraded to Buy from Hold at Ascendiant with analyst Edward Woo noting that the company's fourth quarter results beat expectations and he calls its guidance "strong." According to the analyst ,the company is benefiting from "strength in digital, growth in next gen consoles, and cost management." He calls its upcoming games "solid." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/25/17
BOFA
05/25/17
NO CHANGE
Target $120
BOFA
Buy
Caterpillar earnings set to go higher, says BofA/Merrill
BofA/Merrill analyst Ross Gilardl said Caterpillar's (CAT) earnings are set to go higher following Deere's (DE) strong Q2 report and raised Construction and Forestry outlook and told investors certain Caterpillar dealers are reporting rising backlogs. The analyst raised FY17 earnings forecast to $4.50 from $4.30 and FY18 to $5.75 from $5.40, and is now 12% above consensus for both. Shares are Buy rated with a $120 price target.
06/20/17
BOFA
06/20/17
NO CHANGE
Target $120
BOFA
Buy
Caterpillar upward EPS revisions should be upcoming, says BofA/Merrill
BofA Merrill Lynch analyst Ross Gilardi noted that Caterpillar reported retail sales accelerated to an increase of 8% for the three-month period trailing May. Given the data suggesting revenue growth has accelerated, he views earnings risks as "skewed squarely to the upside" and sees potential for a "material" increase in earnings guidance with Caterpillar's Q2 report. Gilardi keeps a Buy rating and $120 price target on Caterpillar shares.
06/22/17
WELS
06/22/17
NO CHANGE
WELS
Earthmoving market trends positive, says Wells Fargo
After speaking with 20 "U.S. earthmoving market participants," including Caterpillar (CAT) and Deere (DE), Wells Fargo says that the market appears to be "tightening." Wells says that activity in "most regions" showed "broad-based improvement" through Q2. Wells adds that manufacturers seem to have trouble keeping up with demand. Wells says its checks bode well for Caterpillar, Deere, Cummins (CMI), Eaton (ETN) and Parker-Hannifin (PH). It keeps Outperform rating on Caterpillar and Cummins.

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