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
€673.60
0.120%
With 51 Buy predictions and 4 Sell predictions Caterpillar Inc. is one of the favorites of our community.
On the other hand, the target price of 655 € is below the current price of 673.6 € for Caterpillar Inc., so the potential is actually -2.76%.
