September 28, 2012 at 08:38 AM EDT
Citigroup Trims Caterpillar Estimates on Growth Concerns (CAT)

It didn’t take long for Wall Street analysts to begin trimming future forecasts for equipment giant Caterpillar (CAT) following management’s gloomy outlook days ago.

This morning it was Citigroup coming out and lowering its estimates for Caterpillar through the full-year 2013. The analyst has the stock rated as a neutral, as well as a $92 price target.

It has been a volatile year for the shares, hitting all-time highs of $116 a share back in February, but have since backtracked and are down 4% YTD.

The Bottom Line
Shares of Caterpillar (CAT) have a 2.39% dividend yield, based on last night’s closing stock price of $86.92. The stock has technical support in the $80-$83 price area. If the shares can firm up, we see overhead resistance around the $90-$92 price levels.

Caterpillar (CAT) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here