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Caterpillar’s Price Target Lowered at UBS on Slowing China Growth (CAT)

Mining and construction equipment maker Caterpillar Inc. ( CAT ) on Tuesday saw its price target cut by analysts at UBS.

The firm said it now expects shares of CAT to reach $104, which still suggests a 9% upside to the stock's Monday closing price of $95.44.

UBS maintained its "Neutral" rating on the stock, noting the market has pulled back, and that growth in China could be slowing.

Caterpillar shares rose $1.19, or +1.3%, in premarket trading Tuesday.

The Bottom Line

Shares of Caterpillar ( CAT ) have a 1.93% dividend yield, based on last night's closing stock price of $95.44. The stock has technical support in the $90 price area. If the shares can firm up, we see overhead resistance around the $100-$106 price levels.

Caterpillar Inc. ( CAT ) is not recommended at this time, holding a Dividend.com 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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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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