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Deutsche Bank Initiates Coverage On 17 U.S. Machinery Stocks

Caterpillar, Inc. NYSE:CAT, AGCO Corporation NYSE:AGCO - Deutsche Bank Initiates Coverage On 17 U.S. Machinery Stocks

Deutsche Bank initiated its coverage on the U.S. machinery sector with a cautious view. Analysts Nicole DeBlase and Saree Boroditsky believe natural resource markets have bottomed. However, they expect the industry to record only low-single-digit organic growth until the year 2020.

The brokerage picked up Caterpillar Inc. CAT 2% as the top pick, citing gains from restructuring. In all, 17 companies' shares were initiated with coverage. Of these, only three stocks merited a Buy rating, while two stocks are rated at Sell. The remainder elicited Hold ratings.

Deutsche Bank pointed out that machinery volume remained lackluster while industry organic growth is not inspiring. The brokerage believes that the low-single-digit growth would continue in the next two to four years.

Buy

The following stocks are rated as Buy:

Related Link: Gordon Johnson On Sell-Rated Caterpillar: You Can't Fool All The People All The Time

Hold

The brokerage initiated Hold rating on the following stocks:

Sell

The following shares are rated at Sell:

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Latest Ratings for CAT

DateFirmActionFromTo
Jul 2016JefferiesMaintainsHold
Jul 2016CitigroupMaintainsNeutral
Apr 2016Argus Capital UpgradesHoldBuy

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