1020 ET - The public pushback against data centers is splashing back on Caterpillar, Baird analysts say in a research note. The company has benefited heavily from the boom in data center construction, they say. But the recent New York State moratorium on further buildouts is a high-profile example of a larger trend toward regulatory action targeting data centers, the analysts say. These kinds of actions raise costs, add new development approval hurdles, limit site availability and likely slows future investment, they say. Caterpillar shares have been driven up lately by a robust order flow and backlog, but a slowdown is looking increasingly likely, the analysts say. They downgrade the stock to neutral. Shares slide 4.1% to $807.01.