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CAT

Caterpillar

$161.96

2.52 (1.58%)

08:48
01/08/18
01/08
08:48
01/08/18
08:48

Technical View: Caterpillar hits new life highs, analyst action

The stock was last up over 1.5% to $164.50 in the pre-market. This marks a fresh life high for the shares. Without overhead resistance, a run to the $165-$167.50 area becomes the next technical price objective. Support is at $163.50, a level yet to be tested as a support. The prior high was at $162.05. As previously reported, JPMorgan upgraded the name to Overweight and sharply raised its price target from $144 to $200.

CAT Caterpillar
$161.96

2.52 (1.58%)

12/18/17
12/18/17
DOWNGRADE

Mixed
Caterpillar downgraded to Mixed on production constraints at OTR Global
As previously reported, OTR Global downgraded Caterpillar to Mixed from Positive after more sources indicated longer lead times than in September and several cited parts availability, which the firm sees contributing to production constraints.
01/04/18
BMOC
01/04/18
NO CHANGE
Target $195
BMOC
Outperform
Caterpillar price target raised to $195 from $165 at BMO Capital
BMO Capital analyst Joel Tiss raised the price target on Caterpillar to $195 from $165, saying the company is his "best large-cap idea" in the space. Tiss says the company has lowered costs by reducing its global workforce 25% and closing/restructuring over 30 factories, forecasting margin improvement and operating efficiencies. The analyst also notes that Caterpillar will benefit from a cyclical recovery in "many depressed end markets", such as mining, energy and oil/gas. Tiss keeps his Outperform rating, adding that the new CEO Jim Umpleby and his management team can find more balance between creating shareholder value and selling reliable and productive equipment.
01/05/18
UBSW
01/05/18
NO CHANGE
Target $180
UBSW
Buy
Caterpillar price target raised to $180 from $155 at UBS
UBS analyst Steven Fisher raised his price target to $180 from $155 to reflect potential tax benefits, expected buybacks, and a rollout to a 2019 valuation. Fisher reiterated his Buy rating on Caterpillar shares.
01/08/18
JPMS
01/08/18
UPGRADE
Target $200
JPMS
Overweight
Caterpillar upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan upgraded Caterpillar to Overweight and raised her price target for the shares to $200 from $144. The analyst believes the stock still has "significant upside" despite the outperformance in 2017. The recent Tax Cuts and Jobs Act is likely to extend the cycle for Caterpillar's North American Construction business, Duignan tells investors in a research note. The analyst believes the stock remains undervalued.

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