Morgan Stanley Downgrades Caterpillar to Underweight, Lowers Price Target to $332
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded Caterpillar from Equal-Weight to Underweight and reduced its price target from $349 to $332.

October 14, 2024 | 11:14 am
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NEGATIVE IMPACT
Morgan Stanley analyst Angel Castillo has downgraded Caterpillar from Equal-Weight to Underweight, reducing the price target from $349 to $332.
The downgrade from Equal-Weight to Underweight by a major financial institution like Morgan Stanley is likely to negatively impact investor sentiment. The reduction in the price target from $349 to $332 suggests a less optimistic outlook on Caterpillar's future performance, which could lead to short-term selling pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100