UBS downgrades Cat, ITW
UBS AG downgraded Caterpillar Inc., Parker Hannifin Corp. and Eaton Corp. to "sell" from "neutral," citing "continued weakness in key end markets" and "limited pricing power from recent industry capacity expansions" in a report to clients.
The brokerage also cut its recommendation for Illinois Tool Works Inc. to "neutral" from "buy."
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.