Several capital stocks are moving up Tuesday morning after Caterpillar got a upgrade from Morgan Stanley.
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Caterpillar Inc. (NYSE:CAT) soared over 5% to $53.39. Today, Morgan Stanley upgraded the company’s share to Overweight from Underweight. The maker of bulldozers and excavators was upgraded to “Overweight”, with a price target of $70 a share. The analysts cited pace of cyclical acceleration and Caterpillar’s ability to deliver on its structural transformation and, potentially, $8-10 in earnings.
Manitowoc Company, Inc. (NYSE:MTW) surged 3% to $11.09. Yesterday, it announced that it had priced a public offering of $400 million aggregate principal amount of Senior Notes maturing in 2018 and bearing interest at a rate of 9.50%.
Deere & Company (NYSE:DE) rose 3.50% to $50.66 on moderate volume.
The Toro Company (NYSE:
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