Caterpillar (CAT): Short-Term Concern, Long-Term Positives

Tom Essaye gives his take on Caterpillar (CAT) after it missed earnings estimates on the top and bottom line. “Dealers lowered their inventory,” he notes. “In the short term, that’s a little bit concerning.” But long term, he sees positives, including a much higher backlog and management sticking to its forecasts for margins. His biggest areas of concern are in their foreign business if countries retaliate against the U.S. by excluding CAT.

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