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JAN 18, 2013 - MarketWatch

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Caterpillar up on Piper Jaffray upgrade

SAN FRANCISCO (MarketWatch) -- Caterpillar Inc. shares rose 1% Friday after analysts at Piper Jaffray upgraded the heavy equipment maker to overweight from neutral and lifted their price target to $113 a share from $85. Piper Jaffray said concerns over weak demand and too much inventory in China are fading. Meanwhile, China's economy is again growing at a brisk pace and U.S. housing starts are at a five-year high, signalling stronger demand in two of Caterpillar's biggest markets. "Though we are confident that demand for mining equipment will rebound, we think a 12% contraction in 2013 will ... Read More

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