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The following ratings changes were generated on Wednesday, Oct. 15.
We've downgraded Caterpillar(CAT Quote), which manufactures construction and mining equipment, diesel and natural gas engines and industrial gas turbines, from buy to hold. Strengths include its revenue growth, impressive record of earnings per share growth and compelling growth in net income. Weaknesses include generally poor debt management, poor profit margins and weak operating cash flow.
Caterpillar is subject to the risks related to the pricing of steel and other commodities, which could have an adverse effect on the company's performance. Declining margins, deteriorating returns and low liquidity are also concern areas. ...
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