After UBS and Merrill Lynch gave Caterpillar (NYSE: CAT) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Jamie Cook maintained a Buy rating on Caterpillar yesterday and set a price target of $183. The company’s shares closed yesterday at $125.90.
According to TipRanks.com, Cook is a 4-star analyst with an average return of 5.1% and a 52.0% success rate. Cook covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Aecom Technology Corp, and Jacobs Engineering.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Caterpillar with a $157.82 average price target, which is a 25.4% upside from current levels. In a report issued on December 3, Merrill Lynch also upgraded the stock to Buy with a $163 price target.
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Based on Caterpillar’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.51 billion and net profit of $1.73 billion. In comparison, last year the company earned revenue of $11.41 billion and had a net profit of $1.06 billion.
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Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
