Caterpillar (CAT): Raising PT - Credit Suisse

Credit Suisse analyst, Jamie Cook, reiterated his Outperform rating on shares of Caterpillar (NYSE: CAT) and raised the price target to $111 after dealer conversations indicate a more optimistic tone than from the prior quarter.

The analyst stated "most NA dealers (75- 80%) are forecasting flat sales (for 2017) but half see upside to the forecast (as much as 5-7%) depending on the region. Dealers cited increased quoting activity for machines and in some cases power systems in December and January".

The new $111 PT is up from $101.

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 $93.33 yesterday.

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