Caterpillar: shares up after broker raises target

(CercleFinance.com) - Caterpillar shares are up 0.
7% at 169.2 dollars on Friday, after Credit Suisse raised its target price and estimates on the US maker of mining equipment and construction machinery.

The broker, which has an "outperform" rating on the stock, raised its corresponding target price from 155 dollars to 192 dollars, saying that demand is "hot, hot, hot."

"In the US, 90% of the dealers finished the year ahead of expectations and in particular ended with a very strong fourth-quarter," Credit Suisse wrote.

"Demand is very broad-based and positive momentum is expected to continue into 2018 with dealers again expecting demand up at least 5-10%," it added.

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