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Stock impact report

Caterpillar's stock drops after Morgan Stanley turns bearish [MSN Money]

Caterpillar, Inc. (CAT) 
Last caterpillar, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: caterpillar.com/en/investors.html
Company Research Source: MSN Money
© Charlie Neibergal/APShar of Caterpillar (cat) dropped .% in morning trading Monday, after Morgan Stanley analyst Courtney Yakavonis turned bearish on the construction and mining equipmt maker, citing increasing downside risks of a "multi-year downturn" in spding in the non-ridtial construction industry.Load ErrorYakavonis cut the rating to underweight, after cutting it to equal weight in October 09. The price target cut lowered to $9, which is 7% below currt levels, from $07.In addition to growing headwinds from the downturn in non-ridtial construction spding, Yakavonis also expects historically weak oil pric and declining mining commodity pric to weigh on the company."Mining commodity fundamtals have also deteriorated meaningfully in rect weeks and are likely to both derail [Caterpillar's] Rource [original equipmt] recovery and existing aftermarket fundamtals," Yakavonis wrote in a note to clits. "We also see [Caterpillar's] FinCo segmt, which fac headwinds from weaker used equipmt Show less Read more
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