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Caterpillar earnings set to go higher, BofA Merrill analyst says

May 25, 2017 1:11 PM ETCaterpillar Inc. (CAT) StockCATBy: Carl Surran, SA News Editor1 Comment
  • Caterpillar (CAT +1.2%) tops the Dow, as BofA Merrill Lynch analyst Ross Gilardl, which rates shares a Buy with a $120 price target, thinks CAT's earnings are set to go higher following Deere's strong Q2 report and improved construction and forestry outlook, according to TheFly.com.
  • Noting that some CAT dealers are reporting rising backlogs, the firm hikes its FY 2017 EPS forecast to $4.50 from $4.30 and FY 2018 outlook to $5.75 from $5.40, now 12% Wall Street above consensus for both.

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