Posted on August 28, 2018
Following the new U.S.-Mexico trade deal, tariff-sensitive Caterpillar (NYSE:CAT) is continuing its upward momentum this morning, rising 0.5% premarket after a gain of 2.8% on Monday.
Citi is adding to the positive sentiment, stating a sharp earnings cut is “highly unlikely.” U.S. mining colleagues further noted a recent pick-up in call volume and client engagement, suggesting sentiment towards emerging markets/commodities may be bottoming.
The firm keeps a Buy rating on the stock, with a price target of $175.
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