Caterpillar Inc. Downgraded to “Neutral” at BofA

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‚Äôs 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%.

About Ron Haruni 1036 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

Be the first to comment

Leave a Reply

Your email address will not be published.