(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its target price of 300 dollars on Caterpillar, judging that ‘the backlog, the price/cost ratio, the productivity and the possibility of restocking Cat Rental will support earnings short term’.
He said the stock’s decline of around 10% since the start of the year was due to the backlash from a strong performance last fall and the effect of more recent concerns about the availability of credit and the availability of credit. commercial real estate.
“We continue to see the mining and energy cycles close to cycle lows and construction needs to be supported by infrastructure and other government investments,” the broker said.
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