BUZZ-D.A. Davidson raises Caterpillar PT on consistent long-term strategy

Reuters
05-08
BUZZ-D.A. Davidson raises Caterpillar PT on consistent long-term strategy

** D.A. Davidson raises construction equipment manufacturer Caterpillar's CAT.N PT to $331 from $325, a premium of 3.3% to the stock's last close

** Says end markets remain mixed this year, with data centres remaining strong but parts of non-residential construction and turbines a bit weaker

** Says new CEO Joe Creed likely to stay the strategic course, most of the co's recent success was under Creed

** Shares up 1% at $323

** Maintains 'neutral' rating on the shares

** 12 of 28 brokerages rate the stock "buy" or higher, 15 "hold" and 1 "sell"; their median PT is $373.50 - LSEG

** Including session's moves, shares down 10.7% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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