Caterpillar Stock Slips as Analysts Worry About 'Bloated' Inventories

Investopedia10-15

Key Takeaways Caterpillar shares fell Monday as Morgan Stanley analysts downgraded the stock and lowered their price target.The analysts pointed to "bloated channel inventories that now need to be de-...

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As a result, we see even more risk of downward earnings revisions.\". The analysts downgraded the stock to \"underweight\" from \"equal-weight\" and lowered their price target to $332 from $349, nearly 16% below Caterpillar's closing price Monday of $393.95.Of the 11 analysts covering ","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU1917777945.USD":"安联专题基金Cl AT Acc","BK4149":"建筑机械与重型卡车","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","CAT":"卡特彼勒","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","BK7016":"应用软件","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4588":"碎股","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK7084":"电子设备和仪器","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4581":"高盛持仓","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","BK4504":"桥水持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","CAT.AU":"CATAPULT GROUP INTERNATIONAL","BK4127":"投资银行业与经纪业","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4516":"特朗普概念","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1548497426.USD":"安联环球人工智能AT Acc","LU0971096721.USD":"富达环球金融服务 A","BK4532":"文艺复兴科技持仓","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4520":"美国基建股"},"translate_title":"分析师担心库存“膨胀”，卡特彼勒股价下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAT.AU":1,"CAT":1},"content_text":"Key Takeaways\nCaterpillar shares fell Monday as Morgan Stanley analysts downgraded the stock and lowered their price target.The analysts pointed to \"bloated channel inventories that now need to be de-stocked.\"The downgrade comes after Caterpillar shares hit an all-time high last month after the Chinese government announced stimulus measures.\n Shares of Caterpillar (CAT) slid 2% Monday as analysts at Morgan Stanley downgraded the stock and lowered their price target, citing pressure on the company’s construction industries segment.\n\n\n “We now see rising evidence of a potential de-stocking downturn\" for U.S. construction equipment, the analysts wrote, adding Caterpillar faces “bloated channel inventories that now need to be de-stocked. As a result, we see even more risk of downward earnings revisions.\"\n\n\n The analysts downgraded the stock to \"underweight\" from \"equal-weight\" and lowered their price target to $332 from $349, nearly 16% below Caterpillar's closing price Monday of $393.95.\n\n\n Of the 11 analysts covering Caterpillar tracked by Visible Alpha, just four held a \"buy\" or equivalent rating as of Monday, with a consensus price target of $360.55.\n\n\n  Concerns Come After Shares Hit Record High  \n The downgrade comes after Caterpillar shares hit an all-time high last month on hopes the company could benefit from an expansion in China's housing market in the wake of stimulus measures announced by the Chinese government.\n\n\n The construction equipment company is widely considered a bellwether stock as a proxy for domestic and global economic expansion or contraction.\n\nDo you have a news tip for Investopedia reporters? 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