Baird raises CAT to bullish 'fresh pick' status

|By:, SA News Editor

Caterpillar (NYSE:CAT) is now trading near a mid-cycle multiple, according to Baird, as strong demand through Q1 should result in continued backlog build, and capital deployment remains a meaningful potential catalyst.

The firm also said that macro level concerns, such as trade wars, took a toll on the stock during the quarter, but heading into earnings, the focus will shift to company-specific drivers.

CAT +0.5% premarket

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