- Caterpillar (CAT -4.9%) is downgraded to Neutral from Buy with a $115 price target at BofA, citing the company's exposure to the energy sector and uncertainty stemming from the coronavirus.
- Caterpillar "has a strong balance sheet and nearly 4% dividend yield, but so do a lot of other companies," the firm says, adding that a strong yield is "not enough" in the current environment.
- The company recently pulled its guidance due to coronavirus uncertainty, as have Cummins and Deere, "which only underscores the degree of demand and supply side uncertainty emanating from the COVID-19 outbreak."
- CAT's average Sell Side Rating is Bullish, while its Seeking Alpha Authors' Rating and Quant Rating are Neutral.