Today's Research Reports on Stocks to Watch: Caterpillar Inc. and Stanley Black & Decker
NEW YORK, NY / ACCESSWIRE / July 25, 2017 / An upgrade from BMO Capital sent shares of Caterpillar higher on Monday, ahead of its earnings report. The firm has upgraded the stock from "perform" to "outperform." Shares of Stanley Black & Decker saw a close in the red despite reporting second quarter earnings that beat expectations and a favorable outlook for full year earnings.
RDI Initiates Coverage on:
Caterpillar Inc.
https://ub.rdinvesting.com/news/?ticker=CAT
Stanley Black & Decker, Inc.
https://ub.rdinvesting.com/news/?ticker=SWK
Caterpillar Inc. shares closed up a modest 1.49% on Monday after the agriculture and farming equipment company was given an upgrade from BMO Capital. The firm's analyst Joel Tiss has raised his rating on the stock to "outperform." The stock had a rating of "perform" for the last three years. According to Tiss, there are a couple of reasons why the stock deserved the upgrade. 1. "the significant cost-cutting program underway" 2. "new management team that is expected to concentrate on expanding profitability" and 3. "unfolding cyclical recovery." Tiss also raised his price target on the stock from $110 to $125. He wrote in a note, "A strong rebound in demand is likely a 2018 occurrence at the earliest, and the stock has historically jumped in earnest 9-12 months in advance of a cyclical pickup. If this pattern repeats, the shares could trade to our upside scenario." Since the start of the year, the stock has seen gains of almost 16%.
Access RDI's Caterpillar Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=CAT
Stanley Black & Decker, Inc. shares closed down 2.11% yesterday on trading volume roughly three times higher than usual. The Connecticut-based tool company reported its second quarter results on Monday that beat expectations. The company revealed net income of $277.2 million for the period and earnings per share of $2.01, adjusted for costs related to mergers and acquisitions. Wall Street had been waiting for $1.96 per share. Revenue at $3.23 billion also came in higher than what analysts had been looking for at $3.17 billion. For the full year, the company has posted an earnings forecast of $7.18 to $7.38 per share. CEO James Loree commented on the acquisitions of Craftsman and Newell Brands Inc. and said, "As you can tell, there is a large amount of momentum and continued enthusiasm for both of these transactions as the theoretical strategic value of these assets becomes more tangible and more real with each passing day." Since the start of the year, the stock has seen gains of 25%.
Access RDI's Stanley Black & Decker, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=SWK
Our Actionable Research on Caterpillar Inc. (NYSE: CAT) and Stanley Black & Decker, Inc. (NYSE: SWK) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
