Caterpillar is trading 4.35% down at $835.33 after a rating downgrade from Erste Group renewed valuation concerns.
- Erste Group reportedly lowered its rating on the stock to Hold, citing limited upside potential following a significant multi-month rally.
- The move comes amid a softer risk backdrop with growth stocks under pressure, though the analyst action is the primary catalyst for the decline.
- Investors are reassessing the company's valuation after a period of strong performance and the recent loss of analyst conviction.