Caterpillar (CAT): Price Target and June Short Interest Disclosure

Caterpillar (CAT) stock is expected to deviate a maximum of $10.24 from the average target price of $70.36 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $92 and the most muted being $52.

Caterpillar (CAT) has witnessed a drop of 5.9% or 2,575,743 shares in its short figure. The short interest diminution took it from 43,322,037 on June 15,2016 to 40,746,294 on June 30,2016. In terms of floated shares, the short interest was calculated to be 7%. The days to cover are 8 given that the daily volume averaged 5,140,291 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Major Brokerage house, Argus Research upgrades its ratings on Caterpillar (NYSE:CAT). In the latest research report, Argus Research announces the target price to $92 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on April 26, 2016.


Caterpillar (NYSE:CAT): stock turned positive on Thursday. Though the stock opened at $80.5, the bulls momentum made the stock top out at $81 level for the day. The stock recorded a low of $79.97 and closed the trading day at $80.06, in the green by 0.46%. The total traded volume for the day was 5,441,707. The stock had closed at $79.69 in the previous days trading.

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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