Construction and mining equipment maker Caterpillar Inc. (
) caught some very positive comments on Wednesday from analysts at
Jefferies & Co.
The firm reiterated its "Buy" rating and $120 price target on
CAT. That target suggests a 19% upside to the stock's Tuesday
closing price of $100.75.
Jefferies noted that CAT has limited exposure to the disaster in
Japan and could benefit substantially from rebuilding efforts
there. The analyst commented, "CAT is benefiting from recovering
demand for construction and mining equipment globally. Demand
appears to be shifting from emerging to developed markets, and we
do not see recent turmoil in Libya or the earthquake in Japan as
derailing the global economic recovery."
Caterpillar shares rose $1.13, or +1.1%, in premarket trading
The Bottom Line
We have been recommending shares of Caterpillar (
) since Dec.7, 2010, when the stock was trading at $89.20. The
company has a 1.75% dividend yield, based on last night's closing
stock price of $100.75.
Caterpillar Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
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, as well as a detailed explanation of
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