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CommentsAn analyst from financial services firm JPMorgan Chase & Co. lowered the rating and price target for Caterpillar Inc., which manufactures equipment for the solid waste and construction industries.
Pointing to "an extended downcycle of investment beyond 2013," the analyst reduced the price target from $109 to $90, according to an Associated Press report. The Peoria, Ill.-based equipment company's rating was downgraded from "overweight" to "neutral."
Caterpillar Inc. shares were trading at $84.56 this morning.
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