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Bull of the Day

Caterpillar, Inc. (CAT)

By: Zacks Equity Research
November 23, 2009 | Comments: 1
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Caterpillar (CAT - Analyst Report) is a market leader in construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. With its strong brand name, pricing power and global dealer network, we believe Caterpillar is well positioned to take advantage of the growing need for infrastructure development globally.

Though the company expects 2009 sales to decline more than 35% year-over-year, it anticipates an improvement in its top-line in 2010. The company forecasts a 10% to 25% increase in sales for 2010, compared to the midpoint of the 2009 outlook range.

Asserting its optimistic outlook, the company recently announced plans to increase its machinery prices by 2% effective January 2010. We are upgrading the stock to Outperform.

Caterpillar, Inc. (CAT) : FULL ANALYST REPORT

Bull of the Day
Every day we feature one stock with a Zacks Recommendation of Buy that is set to outperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy rated stocks and in-depth research reports, then check out  Zacks Premium.

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jjjumpup wrote...
Overbought at current level. Yes, it could see 70 at the end of 2010, but near term, 48-53 is more certain than 65.
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