Caterpillar To See Margin Gains As Inventory Levels Normalize: Goldman Sachs
Caterpillar(CAT) Benzinga·2024-08-07 02:15
Caterpillar, Inc. CAT shares are trading higher today after the company reported second-quarter FY24 results. Goldman Sachs analyst Jerry Revich maintained a Buy rating with a price target of $408.Total sales and revenue for the quarter declined 4% year-over-year to $16.69 billion, beating the consensus of $16.68 billion.Caterpillar’s adjusted earnings were $5.99 per share, compared to $5.55 a year ago and above the consensus of $5.54.Caterpillar anticipates 2024 sales and revenues to be slightly lower than ...