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Caterpillar (CAT) PT Raised to $85 at Jefferies; Reiterates Hold

January 27, 2017 8:48 AM EST

Jefferies raised its price target on Caterpillar (NYSE: CAT) to $85.00 (from $80.00) while maintaining a Hold rating.

Analyst Stephen Volkmann commented, "Cost cuts continue to benefit margins despite ongoing market weakness. 4Q16 earnings, ex. adjustments, were better than expected on favorable decremental margins in... More