Caterpillar’s Estimates Boosted at Goldman Sachs (CAT)


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Construction and mining equipment maker Caterpillar Inc. ( CAT ) saw its earnings estimates raised on Tuesday by analysts at Goldman Sachs.

The firm said it raised its estimates for CAT through 2012, noting that North American demand for its equipment should escalate soon. Goldman maintained both its "Neutral" rating and $70 price target on the stock.

Caterpillar shares rose $1.22, or +2.1%, in premarket trading Tuesday.

The Bottom Line
We had removed shares of CAT from our recommended list back on July 15, 2008 when the stock was trading at $67.04. The company has a 2.97% dividend yield, based on Friday's closing stock price of $59.18. The stock has technical support in the $54-$55 price area. If the shares can firm up, we see overhead resistance around the $65 price level. We would remain on the sidelines for now.

Caterpillar Inc. ( CAT ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CAT

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