Caterpillar Inc. (CAT) suffered a downgrade Friday. The largest maker of construction and mining equipment was cut to ‘Neutral’ from analysts at Bank of America Corp (BAC).
The giant firm cut its rating on CAT from “Buy” to “Neutral,” following the stock’s recent 21 percent run-up in the last 30 days. CAT’s pps printed $68.16 on Sep 1. and a new high of $78.68 on Sept. 30, 2010.
At last check, shares of the $50 billion market cap company were down 33 cents to $78.35, a loss of 0.42%.