Caterpillar Stock Slips as Analysts Worry About 'Bloated' Inventories

Key Takeaways Caterpillar shares fell Monday as Morgan Stanley analysts downgraded the stock and lowered their price target. The analysts pointed to "bloated channel inventories that now need to be de-stocked." The downgrade comes after Caterpillar shares hit an all-time high last month after the Chinese government announced stimulus measures. Shares of Caterpillar (CAT) slid 2% Monday as analysts at Morgan Stanley downgraded the stock and lowered their price target, citing pressure on the company's constru ...