Caterpillar Gets a Buy Rating from Credit Suisse

By Jason Carr

In a report released yesterday, Jamie Cook from Credit Suisse maintained a Buy rating on Caterpillar (NYSE: CAT), with a price target of $210. The company’s shares closed yesterday at $153.69.

According to TipRanks.com, Cook is a 4-star analyst with an average return of 8.5% and a 59.3% success rate. Cook covers the Basic Materials sector, focusing on stocks such as Mcdermott International, Aecom Technology Corp, and Jacobs Engineering.

Currently, the analyst consensus on Caterpillar is Moderate Buy and the average price target is $187.92, representing a 22.3% upside.

In a report issued on March 2, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $185 price target.

Based on Caterpillar’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $12.9 billion and GAAP net loss of $1.3 billion. In comparison, last year the company earned revenue of $9.57 billion and had a GAAP net loss of $1.17 billion.

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Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It provides technology for construction, transportation, mining, forestry, energy, logistics, electronics, financing, and electric power generation.