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CAT

Caterpillar

$144.52

6.72 (4.88%)

04:55
11/04/19
11/04
04:55
11/04/19
04:55

Caterpillar management to meet with RBC Capital

Meeting to be held in Deerfield , IL on November 4 hosted by RBC Capital.

  • 04

    Nov

  • 05

    Nov

  • 05

    Nov

CAT Caterpillar
$144.52

6.72 (4.88%)

10/18/19
MSCO
10/18/19
DOWNGRADE
Target $145
MSCO
Equal Weight
Morgan Stanley downgrades Caterpillar, sees 2020 declines for two biggest units
As previously reported, Morgan Stanley analyst Courtney Yakavonis downgraded Caterpillar to Equal Weight from Overweight with a price target of $145, down from $150. She believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020, leading Yakavonis to now expect negative growth in the company's two largest business segments in 2020 as well as less upside in Resources. Her sales and EPS estimates are 4% and 2%, respectively, below consensus, and her updated estimates now call for a mild year-over-year earnings decline in 2020, Yakavonis tells investors.
10/18/19
10/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gildan Activewear (GIL) downgraded to Sell from Buy at Desjardins, to Hold from Buy at Stifel, and to Underperform from Buy at BofA/Merrill. 2. Caterpillar (CAT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020. 3. Charles River (CRL) downgraded to Neutral from Buy at BofA/Merrill with analyst Juan Avendano saying the company's acquisition growth opportunities "seem less compelling" going forward. 4. Macy's (M), Gap (GPS), and L Brands (LB) downgraded to Underperform from Neutral at Credit Suisse. 5. Waste Management (WM) downgraded to Neutral from Buy at BofA/Merrill and to Sector Weight from Overweight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/24/19
UBSW
10/24/19
NO CHANGE
Target $110
UBSW
Sell
Caterpillar price target lowered to $110 from $117 at UBS
UBS analyst Steven Fisher lowered his price target on Caterpillar to $110 and kept his Sell rating after its Q3 earnings miss and a cut in FY19 guidance. The analyst notes that it would be "too soon" to be constructive since the dealer destocking is at an early stage and appears to be accelerating. Fisher further states that if the flat end market demand forecast for Q4 is accurate, he sees the actual earnings contraction only starting in 2020, adding that if sales fall next year as well, investors may lose confidence about return to growth in 2021 as well.
10/24/19
DBAB
10/24/19
NO CHANGE
Target $123
DBAB
Hold
Caterpillar shares not pricing in 2020 earnings decline, says Deutsche Bank
Deutsche Bank analyst Chad Dillard raised his price target for Caterpillar to $123 from $113 after the stock rallied following the company's Q3 miss and cut to the full year guide. A further rally hinges on whether the market believes the slowdown is only a destocking event that will give way to a rebound in 2020 or the beginning of a more sustained earnings recession, Dillard tells investors in a research note. The analyst, however, expects Caterpillar's earnings to decline by another 10% in 2020. He believes the market has not factored this outcome in and keeps a Hold rating on the shares.

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