JPMorgan Downgrades Caterpillar (CAT) to Neutral

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JPMorgan downgraded Caterpillar (NYSE: CAT) from Overweight to Neutral with a price target of $90.00 (from $109.00).

The firm said CAT doesn't have the balance sheet to support share repurchases that would boost EPS. Lowers FY12 EPS from $10.92 to $9.

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 $84.95 yesterday, with a 52 week range of $78.25-$116.95.

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