Why Heavy Equipment Stocks Gained Ground Today
Over the weekend, the United States and China laid out the framework for a trade deal and suspended some of the most onerous tariffs imposed by the two countries.
It isn't a done deal yet, but shares of heavy equipment companies that were facing a two-sided blow from the tariffs are rallying on the news. Shares of Caterpillar (NYSE: CAT) climbed as much as 8% on Monday before falling back to up 5%, while shares of Toro (NYSE: TTC) and Deere Co. (NYSE: DE) were up as much as 5%. Deere gave some of that gain back late in the day and was up just 1% as of 3:30 p.m. ET.
Image source: Caterpillar.
Source Fool.com
Caterpillar Inc. Stock
€674.20
0.270%
The stock is one of the favorites of our community with 51 Buy predictions and 4 Sell predictions.
However, we have a potential of -3.89% for Caterpillar Inc. as the target price of 648 € is below the current price of 674.2 €.
