Caterpillar Stock Down After Analyst Actions

MT Newswires Live10-15

Caterpillar (CAT) was down nearly 2% in recent trading Monday, rebounding from a nearly 4% decline earlier in the session, after rating actions and price adjustments by Morgan Stanley and J.P. Morgan.

J.P. Morgan boosted its price target for Caterpillar to $500 from $435 and reiterating its overweight rating.

Morgan Stanley earlier cut its investment rating for the construction equipment company to underweight from equalweight, and adjusted price target to $332 from $349.

Caterpillar's trading volume reached 2.2 million shares on Monday, against a daily average of roughly 2.6 million.

Price: 394.89, Change: -7.13, Percent Change: -1.77

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment