Caterpillar Stock Slips on Evercore ISI Downgrade

Evercore ISI downgraded the machinery sector this morning, including blue-chip giant  Caterpillar Inc (NYSE:CAT), which it cut to "in line" from "outperform." The firm cited the stocks' high valuation after a period of outperformance over the past two years, and raised CAT's price target to $338 from $321. At last glance, Caterpillar stock was down 1.9% at $315.87. The stock hit a Feb. 5 post-earnings record high of $334.87, and is starting the week fresh off four-straight weekly gains. Since last February, ...