14.01.2025 00:18:12
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Why Caterpillar Stock Topped the Market Today
Caterpillar (NYSE: CAT) was quite the energetic cat on the stock exchange as the trading week kicked off. The durable construction vehicle and equipment maker's shares ended the day more than 3% higher, on news of an analyst's recommendation upgrade. That rise was far higher than the S&P 500's (SNPINDEX: ^GSPC) upward move, which was a relatively light 0.2%.Well before market open, Evercore ISI's David Raso changed his recommendation on Caterpillar stock for the better. He now believes it is worthy of an in-line (read: hold) designation, rather than its previous underperform (sell), at a price target of $365 per share. According to reports, Raso's new take on Caterpillar is based on a combination of factors outlined in his latest update on the stock. He pointed out that construction equipment stocks, a group of which it's something of a leader, have fallen at double-digit rates in the past month and a half to two months alone. At the same time, Evercore ISI's surveys for the sector indicate better potential than some investors anticipate.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Aktien in diesem Artikel
Caterpillar Inc Cert.Deposito Arg.Repr. 0.2 Shs | 22 700,00 | 1,34% | |
Caterpillar Inc. | 374,50 | 1,49% | |
The Market Limited Registered Shs | 0,08 | 0,00% |