William Blair & Co. analyst Lawrence De Maria said inventory reductions that Caterpillar reported in the latest quarter were "dramatic" and better than he had anticipated. The company and its dealers have both been trying to sell off inventory, and Caterpillar said that reduced production will continue at least through the first quarter.De Maria, who maintains an "Outperform" rating on the stock, said Caterpillar's "cautiously optimistic view of the world and conservative guidance should help set up for positive earnings surprises in 2013."
Caterpillar Shares Rise On Upgrade, 4Q Report
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