Check Out What Whales Are Doing With CAT
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Caterpillar (NYSE:CAT), with 68% of recent trades being bearish. The majority of the trades are puts, totaling $3,469,677, compared to calls totaling $162,532. The targeted price range for Caterpillar over the last 3 months is from $145.0 to $300.0. JP Morgan maintains an Overweight rating on Caterpillar with a price target of $320.
October 24, 2023 | 7:46 pm
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NEGATIVE IMPACT
A significant investor has taken a bearish stance on Caterpillar, with the majority of recent trades being bearish. This could potentially impact the stock's price in the short term.
The bearish stance taken by a significant investor, indicated by the majority of recent trades being puts, could potentially lead to a decrease in Caterpillar's stock price in the short term. However, JP Morgan's maintained Overweight rating and price target of $320 provides a counterbalance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100