Goldman Sachs Downgrades Caterpillar (CAT) to Neutral
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Price: $336.10 -7.54%
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Goldman Sachs downgraded Caterpillar (NYSE: CAT) from Buy to Neutral with a price target of $101.00 (from $116.00).
"... in an over-supplied commodity environment we no longer see upside to consensus earnings expectations," the Goldman analyst said in the downgrade report.
Goldman cut 2013 EPS estimates from $8.54 to $7.66, FY 2014 from $10.63 to $9.25 and FY 2015 from $11.61 to $10.35.
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 $84.88 yesterday.
"... in an over-supplied commodity environment we no longer see upside to consensus earnings expectations," the Goldman analyst said in the downgrade report.
Goldman cut 2013 EPS estimates from $8.54 to $7.66, FY 2014 from $10.63 to $9.25 and FY 2015 from $11.61 to $10.35.
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 $84.88 yesterday.
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