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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 05:01 EDT
Goldman Sachs analyst Jerry Revich upgraded Caterpillar to Buy from Neutral with a price target of $168, up from $156. Tightening U.S. construction equipment capacity utilization, dealer inventories and backlog approaching trough levels, and margin tailwinds in 2021 from reduced restructuring and inventory destock create an attractive valuation risk/reward for shares of Caterpillar, Revich tells investors in a research note. The analyst sees 20% potential upside in the shares.
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