Caterpillar shares tumble after analyst's downgrade

04/17/2009 | Forbes · Barron's (subscription required)

Sterne Agee downgraded Caterpillar stock, citing the risk of losses from the financing arm of the equipment manufacturer. "We do not believe the headwinds at CAT Finance represent mismanagement but rather the results of a deeper and longer downturn than was imagined," said analyst Lawrence T. De Maria. Stern Agee lowered the share's target price from $30 to $24.

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