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Caterpillar (CAT +2.8%) is enjoying a bit of a relief rally followings its Q1 earnings, although...

Caterpillar (CAT +2.8%) is enjoying a bit of a relief rally followings its Q1 earnings, although Wells Fargo analyst Andrew Casey doesn't think it's sustainable. While Caterpillar is well positioned well for a pickup of developing market growth, "we do not have good visibility on the mining equipment cycle duration," Casey says. "Consequently, we continue to apply somewhat muted multiples to future earnings expectations."

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Comments (2)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    If the CAT rally is not sustainable, then after piercing the $79.64 support the next stops are $70 and $65. CAT is a key indicator to watch.
    22 Apr 2013, 03:59 PM Reply Like
  • june1234
    , contributor
    Comments (3198) | Send Message
     
    It is. They also announced a buyback = spreading earnings to a shrinking base of shares; everybody else is doing it.
    22 Apr 2013, 05:34 PM Reply Like
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