More room to run for CAT according to Seaport

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    Well, on the off chance you take your cues from Seaport and you’re long CAT, there’s good news on Tuesday.

    They’ve upgraded CAT to buy from neutral saying it’s more room to run, on positive 4Q dealer checks and discussions with CAT and competitors.

    Apparently, earth-moving equipment dealers expect high-single-digit revenue growth in 2018, and more believe that new-equipment inventories are still too low.

    New target is $195, implies a 14% increase from close. CAT’s average PT is $173.70

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