Merrill Lynch upgrades Caterpillar to buy with higher price target
Analysts at Merrill Lynch upgraded Caterpillar Inc. (CAT) to “buy” from “neutral” while boosting their price target on the stock to $163 from $140. With CAT currently trading at $139.06, the new price target suggests 17% upside potential in the heavy machinery maker.
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About Caterpillar Inc.
Caterpillar is an iconic manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment with approximately 16% of global market share in 2017. The company is divided into four reportable segments: construction industries, resource industries, energy & transportation, and Caterpillar Financial Services. Its products are available through a dealer network that covers the globe with 2,163 branches maintained by 168 dealers. Caterpillar Financial Services provides financing to its customers and dealers.