Caterpillar(CAT:NYE) JP Morgan lifts target to $185 on mining demand

STA Research
by: STA Research

JPMorgan’s  analyst Ann Duignan boosted her target on Caterpillar to $185 from $178.  She maintained the Overweight rating after a meeting with the management of the company showing greater visibility. Caterpillar sees a bullish take on mining equipment demand which is heavily weighted on the Chinese market.

STA Research has a average target of $151 target on the stock, and a consensus Buy rating.  The technical indicator is slightly bullish.

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