Jefferies Downgrades Caterpillar (CAT) to Hold; International Weakness Coupled with Moderating U.S.
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Price: $338.00 -7.02%
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies downgraded Caterpillar (NYSE: CAT) from Buy to Hold with a price target of $85.00 (from $130.00).
Analyst, Stephen Volkmann, said, "We are downgrading to Hold as construction markets outside of the US have deteriorated, FX will begin to be a larger sales headwind, and global mining markets have softened...We have trimmed our 2012, 2013, and 2014 EPS estimates by $0.50 in each year, largely to reflect a larger FX headwind, but also taking into account the weaker outlook for EAME, Latin America, and mining."
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 $81.91 yesterday.
Analyst, Stephen Volkmann, said, "We are downgrading to Hold as construction markets outside of the US have deteriorated, FX will begin to be a larger sales headwind, and global mining markets have softened...We have trimmed our 2012, 2013, and 2014 EPS estimates by $0.50 in each year, largely to reflect a larger FX headwind, but also taking into account the weaker outlook for EAME, Latin America, and mining."
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 $81.91 yesterday.
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