Barclays Reiterates an 'Overweight' on CAT & CMI After Meetings With Management

Barclays reiterates an Overweight rating on Caterpillar (NYSE: CAT)(PT $131) and Cummins (NYSE: CMI)(PT $137).

Analsyt, Andy Kaplowitz, issued three key takeaways after meeting with management from both companies (CAT, CMI).

1) Despite increased U.S. coal uncertainty, mining equipment-related demand remains strong globally; 2) roductivity/efficiency initiatives at both companies still have runway to drive better results; and 3) North American growth in key end markets such as construction and on-highway truck continues to improve.

Shares both companies are trading almost 2% higher heading into the close.

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