Morgan Stanley Maintains Their Buy Rating on Caterpillar (CAT)

By Carrie Williams

In a report released today, Courtney Yakavonis from Morgan Stanley maintained a Buy rating on Caterpillar (CATResearch Report), with a price target of $150.00. The company’s shares closed last Monday at $117.97, close to its 52-week low of $111.75.

According to TipRanks.com, Yakavonis is a 1-star analyst with an average return of -7.5% and a 26.5% success rate. Yakavonis covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies Corporation, Allison Transmission Holdings Inc, and CNH Industrial.

Currently, the analyst consensus on Caterpillar is a Hold with an average price target of $136.86, a 16.0% upside from current levels. In a report issued on September 24, Citigroup also maintained a Buy rating on the stock with a $145.00 price target.

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Based on Caterpillar’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $14.43 billion and net profit of $1.62 billion. In comparison, last year the company earned revenue of $13.51 billion and had a net profit of $1.73 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 operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.