Caterpillar is trading at $711.38, down 5.02%, as hotter-than-expected September CPI renewed inflation and interest-rate concerns weighing on markets and cyclical stocks.
- Bernstein cut its price target to $749 from $1,002, citing flattened data-center construction indicators and concern bookings momentum could slow.
- The analyst call was reported October 14, not as a new announcement on October 15.