Caterpillar’s Price Target Boosted at Jefferies & Co. (CAT)

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Construction and mining equipment maker Caterpillar Inc. ( CAT ) on Wednesday saw its price target boosted by analysts at Jefferies & Co.

The firm raised its target on CAT from $110 to $120, suggesting a 20% upside to the stock's Tuesday closing price of $99.86. That change came after the company's recent investor meeting in Texas.

Jefferies also maintained its "Buy" rating on CAT, noting positive market trends and the company's positive recent guidance.

Caterpillar shares fell 63 cents, or -0.6%, in premarket trading Wednesday.

The Bottom Line
We have been recommending Caterpillar ( CAT ) as an aggressive dividend recommendation since Dec.7, when the stock was trading at $89.20. The company has a 1.76% dividend yield, based on last night's closing stock price of $99.86.

Caterpillar Inc. ( CAT ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 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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