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Caterpillar (CAT) Stock Coverage Initiated at Deutsche Bank

NEW YORK (TheStreet) -- Shares of Caterpillar (CAT) were higher in pre-market trading on Wednesday as Deutsche Bank initiated coverage of the stock with a "buy" rating and a $98 price target.

The firm initiated coverage of the U.S. Machinery sector in general with a "cautious" view, but said that Peoria, IL-based Caterpillar is its top pick in the market.

Deutsche Bank added that natural resources markets may have bottomed and it expects low industry organic growth through 2020.

However, Caterpillar is the firm's top pick in the sector due to the company's ability to grow earnings...


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