Caterpillar: in Jefferies franchise picks list

(CercleFinance.com) - Jefferies has added Caterpillar to its "Franchise Pick" list of favorite stocks, while maintaining its "buy" rating on the stock, along with its target price of $285, despite the equipment giant's recent performance in construction sites and mines.


The broker sees upside potential for the estimates, "driven by both mining and energy cycles, low equipment inventories, aged fleets and a significant infrastructure kicker in the coming years".

"In the near term margins should benefit from positive price/cost and productivity as supply chains normalize," Jefferies adds in its summary.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.