Oppenheimer Maintains Outperform on Caterpillar, Lowers Price Target to $1009
Oppenheimer analyst Kristen Owen maintains Caterpillar (NYSE:CAT) with a Outperform and lowers the price target from $1118 to $1009.
Economy · News reference
Shares of machinery-related companies are trading lower as rising oil prices and stronger-than-expected inflation data have reinforced expectations that U.S. interest rates will remain elevated. Elevated borrowing costs could pressure capital spending and reduce demand for heavy equipment and other large industrial purchases.
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