Caterpillar (CAT) NewsBite - Broker Upgrade Lifts CAT
Posted: Tuesday, February 09, 2010 10:02 AM EDT
By: Market Intelligence Center Staff
Caterpillar (NYSE: CAT) opened at $52.70. So far today, the stock has hit a low of $52.55 and a high of $52.89. CAT is now trading at $53.06, up $2.28 (4.49%). Over the last 52 weeks the stock has ranged from a low of $21.71 to a high of $64.42. CAT shares are on the move today after analysts at Morgan Stanley upgraded the stock to Overweight from Underweight, adding in a note to investors that industrial stocks have "substantially more upside" than the S&P 500 as a whole due to rising orders and lower costs. Technical indicators for the stock are bullish and S&P gives CAT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CAT the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]
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