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NEW YORK ( TheStreet) -- On the heels of another analyst downgrade, Jim Cramer told Debra Borchardt at TheStreet.com that shares of Caterpillar (CAT) are now closer to the bottom than they are to its top.
Cramer said today's downgrade by Goldman Sachs (GS) cites continued weakness in CAT's mining equipment products, even as construction equipment is beginning to pick up. He said investors with a long-term focus should begin using weakness in CAT as a buying opportunity rather than a selling one.
That said, Cramer noted that there are still too many analysts that like Caterpillar, so shares may continue to fall further as other analysts abandon ship.To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
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