Caterpillar (CAT) Shakes-Off Analyst Downgrade as Investors Gain Confidence

June 29, 2012 9:42 AM EDT
An analyst downgrade of Caterpillar (NYSE: CAT) just isn't going to do it today, with markets moving higher on euro sentiment.

Raymond James cut the industrial giant down to Market Perform earlier, moving its price target down 27 percent to $95 in the process.

However, Caterpillar is up 2 percent on the session Friday, as shares look to rebound from dropping six of the last seven trading sessions.

Volatility is negative in early trading, hinting that it might be a lukewarn session for shares. Implied volatility is just about at par with its trailing annual average.

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