Caterpillar stock is 'hands-off' except for one reason, trader says $CAT (via TradingNation)
Analysts on Monday said the machinery maker could see a sharp decline in profits on a "severe capital spending downturn.""There's a lot of optimism starting to come into play that when we get out of this we're going to start to see a significant economic rebound, but ... Caterpillar has more going on than just the coronavirus," Tatro said on CNBC's "" on Monday, pointing to a slowdown in spending in the energy and mining space as reason for concern.
Bank of America analysts predict that earnings could fall by 48% in 2020 and remain depressed for years to come. "The stock [is] still trading at 20 times forward earnings, which is really expensive for a stock that declines 48% with their earnings, so I think you have to look at it from that standpoint, if you're looking at a growth name," said Tatro."We still own some from a dividend perspective, but from a growth perspective, I think it's hands off," said Tatro.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
World Bank, IMF Push to Consolidate Patchwork Approach to Coronavirus CrisisIn addressing the coronavirus pandemic, the international financial community has lacked a unified approach, observers say. But the IMF and World Bank are pushing world leaders to coordinate more closely.
Consulte Mais informação »
Indonesia central bank may stay on hold for market stability: Reuters pollA small majority of analysts expect Indonesia's central bank to keep its policy rate on hold on Tuesday, as it tries to maintain stability in its currency and capital markets amid pressures from the coronavirus outbreak, a Reuters poll found.
Consulte Mais informação »
China central bank raises stake in India's HDFCThe People's Bank of China increased its stake in Housing Development Finance Corp Ltd to 1.01% from 0.8%, the Indian lender said in a filing on Saturday.
Consulte Mais informação »
What AIDS Taught Coronavirus Leaders: You Can’t Bank on a Fast VaccineAnthony Fauci and Deborah Birx belong to a generation of physicians whose professional lives are bookended by two lethal viruses. This is what the infectious disease leaders who came of age in the 1980s know now.
Consulte Mais informação »
Check your balance: Coronavirus stimulus money starts to flow into bank accountsJUST IN: Americans are starting to receive their cash payments via direct deposits, part of the $2T bill passed by Congress to stimulate the economy after the decline caused by the coronavirus pandemic.
Consulte Mais informação »
Fed's Clarida says central bank has tools to avoid deflation: BBGThe coronavirus shock to the economy won't push the United States into a damaging bout of deflation given the Fed's response and power to do more, Fed vice chair Richard Clarida said on Monday.
Consulte Mais informação »