Caterpillar: ‘Construction Keeps the Lights On’; Bad News for Joy Global?

Stifel’s Robert Connors and Anthony To maintained their Buy rating on Caterpillar (CAT) following its financial results yesterday. They explain why: LUKE SHARRETT/BLOOMBERG NEWS We believe buybacks, the healthy dividend, and N. America construction will continue to keep the lights on while investors await a turn in Commodities (0.86 R-squared between the CRB and Caterpillar’s [...]