Caterpillar To See Margin Gains As Inventory Levels Normalize: Goldman Sachs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 06 2024
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Should l Buy DJIA?
Source: Benzinga
Caterpillar's Q2 Performance: Caterpillar, Inc. reported a 4% decline in total sales and revenue for Q2 FY24 to $16.69 billion, slightly exceeding expectations, while adjusted earnings rose to $5.99 per share, surpassing consensus estimates.
Analyst Outlook: Goldman Sachs analyst Jerry Revich maintained a Buy rating with a price target of $408, predicting a slight decrease in 2024 sales compared to 2023, but noted strong margin performance due to price increases and reduced manufacturing costs.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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