Posted on Wednesday, April 4th, 2012 | In Stocks to Watch
With the Bucyrus acquisition, the company is positioned to be the #1 mining equipment manufacturer in the U.S. with a strong footing in the major mining markets of China and India. Caterpillar's backlog is at a record level, which holds promise for the year ahead. We believe Caterpillar's expansion plans of opening new facilities and furthering existing operations, particularly in the emerging markets, will boost its long-term potential.
Furthermore, the company's top line will continue to grow on the back of increasing demand for construction and mining equipment. We maintain our Outperform recommendation and set a target price of $128.00.
CATERPILLAR INC (CAT): Free Stock Analysis Report
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