Goldman Sachs upgraded its rating for Caterpillar Inc. from “sell” to “neutral,” citing a weakening U.S. dollar and improvement in the commodity supply-demand balance.
Goldman Sachs analyst Jerry Revich raised the price target for Caterpillar stocks from $62 to $78, according to benzinga.com.
“Although the China construction recovery is unlikely to prove sustainable, improvements in the commodity supply-demand balance and a weakening U.S. dollar are the positives,” the website wrote.
