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    Caterpillar shares bounce at lows for the first time in eight months after Cohen said he would buy ahead of the “megacycle” for the first time in 14 years

    Caterpillar Inc.Stocks
    Cat,
    -0.52%

    Cohen analyst Matt Elcott said the next “megacycle” was underway. Elkott has begun coverage of Caterpillar’s stock, surpassing its valuation and pricing targets by $ 241. This means a 28% rise from Wednesday’s closing price. Elkott expects Caterpillar to see revenue growth, gross margin and operating margin growth, and earnings per share increase for the third consecutive year. This is the first period of “megacycle” growth that the company has enjoyed in 14 years and only the second in modern history. “We anticipate a potential $ 35 billion incremental revenue opportunity. [Caterpillar] “From an autonomous solution over the next decade,” Elkott said in a note to clients, “We predict that at least 75% of the CAT market will work to reduce emissions. Wednesday, February 1st. The average of 30 Dow Industries stocks, which closed at the lowest price since the day, has fallen 10.7% in the last three months.
    DJIA,
    -0.00%

    It fell 1.6%.

    Caterpillar shares bounce at lows for the first time in eight months after Cohen said he would buy ahead of the “megacycle” for the first time in 14 years

    Source link Caterpillar shares bounce at lows for the first time in eight months after Cohen said he would buy ahead of the “megacycle” for the first time in 14 years

    The post Caterpillar shares bounce at lows for the first time in eight months after Cohen said he would buy ahead of the “megacycle” for the first time in 14 years appeared first on Eminetra.

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