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January 11, 2019
09:16 EDT CAT
theflyonthewall.com: Caterpillar EPS outlook reduced by 2% at Goldman Sachs
Goldman Sachs analyst Jerry Revich kept his Buy rating and $156 price target on Caterpillar but lowered his outlook for FY18-20 EPS by about 2% on average. The analyst cites reduced oil and gas reciprocating engine demand for machinery, even though he sees the mining, oil & gas end markets closer to trough than mid-cycle. Revich further states that his forecasts are now below consensus, even though Caterpillar shares trade at 10.3-times forward earnings, which is near the historical trough valuation of 10-times next twelve months’ earnings. :theflyonthewall.com