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BofA upgrades CAT on sales momentum

Published 05/11/2017, 08:39 AM
© Reuters.  BofA upgrades CAT on sales momentum
CAT
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  • BofA/Merrill Lynch raises Caterpillar (NYSE:CAT) to Buy from Neutral, saying monthly retail sales continue to accelerate.
  • Another "big beat and raise" may happen in July and the dividend can be increased over the summer.
  • The firm also raised its price target on the stock to $120 from $105.
  • CAT +1% premarket
  • Now read: Caterpillar - The Insanity Continues


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