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Caterpillar, Inc. (CAT)
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Caterpillar Inc.'s (CAT - Analyst Report) fourth quarter EPS increased 53% to $2.25 and revenues surged 35% to a record $17.2 billion, driven by increased machine demand. Results were way 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 the major mining markets of China and India. Caterpillar's strong brand name, pricing power and global dealer network put it in a position to capitalize on the growing need for infrastructure development worldwide.
We maintain our Outperform recommendation, which indicates that it will perform better than the market. Our $134.00 target price, 14.5x our 2012 EPS estimate, reflects this view.
Caterpillar, Inc. (CAT) : FULL ANALYST REPORT
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