** Shares of Caterpillar CAT.N were down 4.7% in late morning trading Thurs after the co forecast a slight sales drop in 2025 and reported qtrly rev that missed analysts' expectations
** The construction equipment maker cited dealers cutting back purchases of equipment
** The co also reported before the opening bell fourth-qtr adj earnings that beat analysts' expectations
** "Dealer inventories fell by $1.3bn (machines $1.6bn) versus the $0.9bn decline in 4Q23 and thus posed roughly an $0.4bn YoY headwind to revenues in 4Q," Jefferies analysts wrote in a note
** The median 12-mo PT on the stock is $386.98; the stock was last at $374.69
** Of the 27 analysts who cover CAT, 10 rate the stock a "strong buy" or "buy," 12 rate it a "hold" and five rate it "sell" or "strong sell," per LSEG
** Including the session move, CAT is up 3.5% YTD, compared with a 5.5% gain in the Dow Jones industrial average .DJI
(Reporting by Caroline Valetkevitch)
((caroline.valetkevitch@thomsonreuters.com))
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