I did my own research. ...19-Apr-00 Salomon Smth Brny Downgrade Buy Neutral... This was the last analyst action from the Salomon Brothers I could find on Yahoo. That time Cat was trading around $ 35. The following 12 months CAT went as high as $ 49. So now they are coming out with an upgrade @ $ 76, nice. Any clue why they didn't upgrade CAT 14 months ago when Cat was trading @ 35 bucks? John Gutfreund and the rest of his bunch know what it means when SSB says buy.
Mr. Raso from SSB says: ...We see CAT stock as set to move higher again," Raso said as he upgraded the shares (CAT: news, chart, profile) to "buy" from "hold" while also lowering his risk rating to "medium" from "high" and boosting his price target to $90 from $77... So risk @$ 35 was high. Now as we are @ $77 risk is medium??? Ok, I keep that $77 in my mind for the next months.
Cat numbers: Total Cash Per Share (mrq): 1.14 Revenue Growth (lfy)³: -1.50% Earnings Growth (lfy)³: -0.90% Ok, David, probably you have a MBA from a top US-Business School. But let me tell you this: Cat won't be the next highflyer.
Update: Still short and already made 2 bucks on the stock. IMHO this will be the next profitable trade in CAT. BTW, my success rate is almost 100%. Check it out.