UPDATE: Jefferies Lowers PT on Caterpillar on Lowered 2013/2014 Earnings Estimates
April 17, 2013 at 10:46 AM EDT
In a report published Wednesday, Jefferies analyst Stephen Volkmann reiterated a Hold rating on Caterpillar (NYSE: CAT ), but lowered the price target from $95.00 to $75.00. In the report, Volkmann noted, “We are lowering our 2013/2014 and introducing a 2015 earnings estimate well below current consensus forecasts. With miner
