(CAT) Caterpillar Incorporated – Bull of the Day

Caterpillar, Inc. (CAT) 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): Free Stock Analysis Report

To read this article on Zacks.com click here.

About vitalstocks

This is a sample profile field. Vitalstocks is the operating company for Stockbloghub. This will place the picture of the author or company in the profile. Here is another extra line of information.


Powered by Facebook Comments

Similar Posts: | | Farm & Construction Machinery | Industrial Goods

RSS feeds: CAT | Caterpillar Inc. | Farm & Construction Machinery | Industrial Goods |

Other Posts by | RSS Feed for this author