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Caterpillar Inc. (NYSE:CAT) stock news and links


Wachovia maintains “market perform” rating on Caterpillar


Wachovia analyst says, “Based on our channel checks, we are seeing further weakening in Europe and American demand and pricing environment and a likely H2 09 flattening of Electric Power demand…We are reducing our 2008E (to $6.01 from $6.08), 2009E (to $6.25 from $6.50) and 2010E (to $7.35 from $7.70). We are pushing out our N American recovery timing expectation to 2010 from 2009, and we are decreasing expectations for Europe, Africa and Middle East…We expect volatile performance near term due to global macroeconomic uncertainty. We continue to expect CAT to achieve earnings growth through the next few years on the strength of its exposure to the mining and energy markets.”

Mining and energy, where prices are totally in the tank … hmmm.

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Tom Mangan posted at 11:04 am December 23rd, 2008 |

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