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Caterpillar upgraded at Morgan Stanley after underestimating U.S. construction market.
Morgan Stanley upgraded Caterpillar after previously underestimating the U.S. construction market outlook.
KEY POINTS
- Caterpillar shares rose over 9% following a strong earnings beat and an increased revenue forecast.
- The company's updated full-year revenue guidance was driven by robust U.S. construction demand.
- Previous Wall Street projections did not fully capture the strength of U.S. construction trends.
COMPANIES
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