Caterpillar just got bulldozed by a double downgrade from UBS. One expert disagrees with the call.
Caterpillar just got bulldozed by UBS. The firm gave a rare double downgrade from buy to sell with analysts warning that an earnings decline in 2020 had not yet been priced into the stock. Mark Tepper, president and founder of Strategic Wealth Partners, disagrees. "I wouldn't be running away from this stock. I think the double downgrade was excessive," Tepper said Tuesday on CNBC's"Trading Nation." UBS' call is an outlier on the Street.
"Loan growth is on fire and commercial and industrial loan growth is leading the way, growing by over 10 percent per year so that loan growth is good for profit growth. So we think there's potential for the stock to go up from here." But Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Tuesday he is"still dubious" on the stock given global growth fears.
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