Goldman Sachs Removes Caterpillar from “Conviction Buy” List (CAT)

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Caterpillar Inc. ( CAT ) was removed from Goldman Sachs' "Conviction Buy" list on Friday.

The analysts at Goldman Sachs removed the company from the "Conviction Buy" list because they believe that CAT is seeing slower growth in developing markets. This can potentially slow down overall growth for the company.

Goldman Sachs' price target for Caterpillar is $103, a 23.3% upside from Thursday's closing price of $83.53.

Caterpillar shares were down 36 cents, or -0.43%, in premarket trading on Friday.

The Bottom Line
Shares of Caterpillar ( CAT ) have a 2.49% dividend yield, based on last night's closing stock price of $83.53. The stock has technical support in the $79-$80 price area. If the shares can firm up, we see overhead resistance around the $88-$90 price levels.

Caterpillar Inc. ( CAT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CAT

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