Bernstein lowered the firm’s price target on Caterpillar (CAT) to $360 from $378 and keeps a Market Perform rating on the shares. The firm notes the company reported Q4 earnings of $5.14, 2% ahead of Street, with the beat coming from non-core items. Overall, the results contained more good data points than bad, but the weight of the bad is “too heavy to ignore,” Bernstein adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAT:
- Caterpillar price target lowered to $300 from $330 at Morgan Stanley
- Caterpillar price target raised to $346 from $300 at Baird
- Caterpillar price target raised to $430 from $420 at Citi
- Caterpillar price target lowered to $490 from $515 at JPMorgan
- Caterpillar’s Robust Financial Performance Amid Challenges