Wells Fargo Downgrades Caterpillar (CAT) to Market Perform; Adjusting Estimates And Valuation Range
Tweet
Share
E-mail
Get Alerts CAT Hot Sheet
Price: $856.57 +0.23%
Rating Summary:
23 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
23 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Join SI Premium – FREE
Wells Fargo downgraded Caterpillar (NYSE: CAT) from Outperform to Market Perform with a price target range $88-$90 (from $99-$102).
Analyst, Andrew Casey, said, "We continue to believe that CAT is positioned well for future reacceleration of developing market growth. However, we don't have good visibility on catalysts that will make the stock outperform the overall market sustainably in the near- to midterm, and expect reduced valuation multiples in light of increased uncertainty related to near and mid-term earnings power."
"On the Q2 2012 $0.29 outperformance vs. our expectations and modestly increased H2 2012 expectations, we are increasing our Q3 2012E to $2.18 from $2.15 and 2012E to $9.45 from $9.05."
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 $82.60 yesterday.
Analyst, Andrew Casey, said, "We continue to believe that CAT is positioned well for future reacceleration of developing market growth. However, we don't have good visibility on catalysts that will make the stock outperform the overall market sustainably in the near- to midterm, and expect reduced valuation multiples in light of increased uncertainty related to near and mid-term earnings power."
"On the Q2 2012 $0.29 outperformance vs. our expectations and modestly increased H2 2012 expectations, we are increasing our Q3 2012E to $2.18 from $2.15 and 2012E to $9.45 from $9.05."
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 $82.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Keefe, Bruyette & Woods Downgrades Bain Capital Specialty Finance (BCSF) to Market Perform
- Berenberg Upgrades Accelleron Industries AG (ACLN:SW) to Buy
- JPMorgan Upgrades Amber Enterprises India Ltd (AMBER:IN) to Overweight
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Earnings, Wells FargoSign 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!
