Caterpillar (CAT) is Reiterated by UBS to Neutral, Raises Price Target to $ 76

Caterpillar (CAT) was Reiterated by UBS to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 76 from a previous price target of $61 . UBS advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Caterpillar. Goldman Upgraded Caterpillar on Apr 25, 2016 to ” Neutral”, Price Target of the shares are set at $78.Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $68 .Company shares were Reiterated by Barclays on Apr 13, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .

On the company’s financial health, Caterpillar reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 22, 2016. Analyst had a consensus of $0.68. The company had revenue of $9461.00 million for the quarter, compared to analysts expectations of $9454.87 million. The company’s revenue was down -25.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.72 EPS.

Caterpillar closed down -0.34 points or -0.43% at $78.32 with 1,00,99,567 shares getting traded on Friday. Post opening the session at $78.93, the shares hit an intraday low of $77.2 and an intraday high of $79.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 31, 2015, Bradley M Halverson (Group President & CFO) sold 11,867 shares at $77.11 per share price. According to the SEC, on May 12, 2015, Daniel M Dickinson (director) sold 807 shares at $87.10 per share price.

Caterpillar Inc. is a manufacturer of construction and mining equipment diesel and natural gas engines industrial gas turbines and diesel-electric locomotives. The Company principally operates through its three product segments: Resource Industries Construction Industries and Energy & Transportation. The Company also provides financing and related services through its Financial Products segment. It offers its products under the brand names Caterpillar CAT design versions of CAT and Caterpillar Electro-Motive FG Wilson MaK MWM Perkins Progress Rail SEM and Solar Turbines. It operates parts distribution centers at various locations including Morton Illinois; Arvin California; Denver Colorado; Miami Florida; Atlanta Georgia; St. Paul Minnesota and Dubai United Arab Emirates among others. Its subsidiaries include Caterpillar Life Insurance Company Cat Financial and Caterpillar Product Services Corporation (CPSC) among others.


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