** Caterpillar CAT.N reported lower-than-expected Q1 results on Wednesday due to weak construction demand
** Co outlined two scenarios for annual sales forecast, one of which included potential tariff-related impacts
** Median PT of 28 brokerages covering the stock is $373.50; average analyst rating is "hold" - LSEG data
TARIFF UNKNOWNS LINGER
** Bernstein ("market perform", PT: $304) says CAT results seem to defy slowing construction activity, as they prove co to be better positioned to respond to demand vs past cycles despite unknown demand pull-forward
** Evercore ISI ("in line", PT: $375) says the FY outlook with tariffs is "no worse than feared" and both forecast profit scenarios show stock trading at reasonable levels
** Morgan Stanley ("equal weigh", PT: $283) says despite signs of notable demand in Q1, they remain skeptical that results are driven by pull-forward demand ahead of tariffs
** "We think the risk of further deterioration cannot be yet dismissed" - brokerage
** Daiwa Capital Markets("neutral", PT: $310) says strong residential construction demand in North America might not be sustainable in the face of economic uncertainties
(Reporting by Twesha Dikshit)
((Twesha.Dikshit@thomsonreuters.com))
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