Caterpillar (CAT): Earnings Preview - Jefferies

October 18, 2016 7:21 AM EDT
Get Alerts CAT Hot Sheet
Price: $93.77 -0.75%

Rating Summary:
    11 Buy, 19 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Jefferies analyst, Stephen Volkmann, reiterated his Hold rating on shares of Caterpillar (NYSE: CAT) noting that continued weak retail sales could pressure the top-line and drive further inventory reduction into year-end.

CAT is expected to provide 2017 revenue guidance and the analyst is currently modeling flat to down 5%, below consensus of down 2%. Profitability discussions are expected to be in 4Q, however, CAT earnings are likely to be range bound until commodity prices recover and equipment fleets age.

No change to the price target of $80.

For an analyst ratings summary and ratings history on Caterpillar click here. For more ratings news on Caterpillar click here.

Shares of Caterpillar closed at $87.29 yesterday.

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