Goldman Sachs Upgrades Caterpillar (CAT) to Buy, Sees 17% Upside
Tweet
Share
E-mail
Get Alerts CAT Hot Sheet
Price: $815.39 --0%
Rating Summary:
23 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
23 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Join SI Premium – FREE
Goldman Sachs upgraded Caterpillar (NYSE: CAT) from Neutral to Buy with a price target of $98, suggesting 17% upside.
The firm said the company's exposure to rising resource production costs along with reasonable valuation position the stock to outperform.
Goldman sees compelling supply tailwinds in CAT's Mining and Oil & Gas businesses, which represents 47$ of profits. The firm's new mining capex survey points to 19% growth.
For more ratings news on Caterpillar click here and for the rating history of Caterpillar click here.
Shares of Caterpillar closed at $84.09 yesterday.
The firm said the company's exposure to rising resource production costs along with reasonable valuation position the stock to outperform.
Goldman sees compelling supply tailwinds in CAT's Mining and Oil & Gas businesses, which represents 47$ of profits. The firm's new mining capex survey points to 19% growth.
For more ratings news on Caterpillar click here and for the rating history of Caterpillar click here.
Shares of Caterpillar closed at $84.09 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Upgrades Walmart (WMT) to Buy
- Caterpillar Expands Workforce Initiative to Arkansas to Strengthen Pathways to Manufacturing Careers
- Morgan Stanley Upgrades Megaport Ltd. (MP1:AU) (MGPPF) to Overweight
Create E-mail Alert Related Categories
Hot Upgrades, UpgradesRelated Entities
Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
