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Caterpillar, Inc. (CAT)
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Caterpillar, Inc. (CAT - Analyst Report) posted an impressive third quarter with record EPS of $1.93 and sales of $14.6 billion driven by increased
machine demand and continued economic growth. Results were ahead of Zacks Consensus Estimates. With the Bucyrus acquisition, the company is positioned to be the #1 mining equipment manufacturer in the U.S. with a strong footing in China and India, the major mining markets.
Caterpillar's financial position continues to strengthen through the first nine months of the year. Caterpillar's cash flow for the period is an all-time high and better than the company's full-year results so far.
Furthermore, the company's order backlog has steadily increased throughout the year and is at a record level, which holds promise for the year ahead. We upgrade our recommendation from Neutral to Outperform and set a target price of $127.
Caterpillar, Inc. (CAT) : FULL ANALYST REPORT
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