Baird Maintains Underperform on Caterpillar, Raises Price Target to $257
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Mircea Dobre has maintained an Underperform rating on Caterpillar (NYSE:CAT) but raised the price target from $210 to $257. This adjustment suggests a negative outlook on the stock's performance despite the increased price target.
February 06, 2024 | 6:41 pm
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NEGATIVE IMPACT
Baird maintains an Underperform rating on Caterpillar but raises the price target from $210 to $257.
The maintenance of an Underperform rating by Baird, despite raising the price target, indicates a lack of confidence in Caterpillar's short-term performance. This could lead to negative investor sentiment and potentially lower stock prices in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100