Seeking Alpha

Caterpillar shows strong dealer trends, Credit Suisse survey says

Credit Suisse sees green shoots in the U.S. industrial equipment market for Caterpillar (CAT) after 95% of dealers the firm surveyed said they were exceeding their forecasts, with the year now expected to gain 8%-12% Y/Y vs. an earlier forecast of 5%-7%.

The survey described broad-based positive housing commentary, non-residential was mixed but better on the margin, while signs of life were noted in multi-family housing, automotive, hospitals, schools and data centers; dealer inventory levels were very low, and dealers were concerned about lead times across multiple lines of equipment.

Credit Suisse has a $117 price target on CAT and an Outperform rating.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs