Piper Jaffray Upgrades Caterpillar (CAT)

Piper Jaffray reported on Friday that they have upgraded construction and mining equipment manufacturer, Caterpillar Inc.(CAT).

The firm has increased their rating on CAT from “Neutral” to “Overweight,” and has given the company a $113 price target. This price target suggests a 14.5% increase from the stock’s current price of $96.51.

Analysts have upgraded the company based on an improved outlook in mining in the China region.

Caterpillar shares were up 92 cents, or 0.96% during premarket trading Friday. The stock has declined -6.6% in the past year.

The Bottom Line
Shares of Caterpillar (CAT) have a 2.17% dividend yield, based on last night’s closing stock price of $95.70. The stock has technical support in the $85-$90 price area. If the shares can firm up, we see overhead resistance around the $100-$101 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here