CAT – Morgans rates the stock as Add

December quarter cash flows were ahead of expectations, supported by R&D tax refunds. Morgans observes the company is on track to meet its full year guidance and makes no changes to estimates.

Add retained. Target is $2.97.

Sector: Technology Hardware & Equipment.

Target price is $2.97.Current Price is $1.76. Difference: $1.21 – (brackets indicate current price is over target). If CAT meets the Morgans target it will return approximately 41% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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