Evercore ISI analyst David Raso upgraded Caterpillar (CAT) to In Line from Underperform with a $365 price target The firm says that while it is hard to be a construction bull amid interest rates continuing to surprise to the upside, the stocks are down and investor expectations are now “greatly reduced.” In addition, Evercore’s quarterly global survey of construction equipment dealers came in “better than feared,” the analyst tells investors in a research note.
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