Shares of Caterpillar Inc. fell 1.3% toward a five-month low in premarket trading Monday, enough to pace the Dow Jones Industrial Average’s decliners, after...
Shares of Caterpillar Inc. CAT fell 1.3% toward a five-month low in premarket trading Monday, enough to pace the Dow Jones Industrial Average’s DJIA decliners, after Baird analyst Mircea Dobre turned bearish, citing the belief they are nearing a “cyclical pivot point” that will lead to underperformance. Dobre cut his rating to underperform, a little more than two months after lowering to neutral. while lowering his stock price target to $185 from $230.
3% toward a five-month low in premarket trading Monday, enough to pace the Dow Jones Industrial Average’s DJIA decliners, after Baird analyst Mircea Dobre turned bearish, citing the belief they are nearing a “cyclical pivot point” that will lead to underperformance. Dobre cut his rating to underperform, a little more than two months after lowering to neutral. while lowering his stock price target to $185 from $230. The new target implied about 15% downside from Friday’s closing price of $217.01.
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