Caterpillar's stock hits 3-month low, as CFRA turns bearish after earnings disappoint
Shares of Caterpillar Inc. tanked 1.9% toward a 3-month low in midday trading Friday, after CFRA analyst Elizabeth Vermillion turned bearish on the construction and mining equipment maker, after the company missed fourth-quarter sales expectations and provided a downbeat outlook. Vermillion also cut her stock price target to $120, which is 9.6% below current levels, from $156, citing the outlook for global sales to continue to weaken and the need for lower production to better match dealer and end-user demand. Читать дальше...
