Caterpillar (NYSE: CAT) was the recipient of a ratings changes during the seven days:

  • Caterpillar is now covered by analysts at Buckingham Research. They set a “neutral” rating and a $90.00 price target on the stock.
  • Caterpillar is now covered by analysts at Piper Jaffray. They set a “neutral” rating and a $90.00 price target on the stock. They wrote, “Increasingly efficient operations and a recovering U.S. construction market are positives – but these are offset by a shaky outlook in the lucrative “Resource Industries” (mining) segment. Persistent weakness in China is also a concern. In a historical context, CAT’s recent valuation range of 8-9x forward EPS is heavily depressed – but given the likelihood of downward estimate revisions following the Q3 call, we think CAT’s multiple looks lower than it actually is.”
  • Caterpillar was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating. They now have a $95.00 price target on the stock, down previously from $105.00.
  • Caterpillar had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $85.00 price target on the stock.
  • Caterpillar had its “overweight” rating reaffirmed by analysts at Barclays Capital. They now have a $114.00 price target on the stock.

Shares of Caterpillar Inc. traded up 1.10% during mid-day trading on Thursday, hitting $87.06. Caterpillar Inc. has a one year low of $78.25 and a one year high of $116.95. The company has a market cap of $56.874 billion and a P/E ratio of 9.63.

Caterpillar Inc. (Caterpillar) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.