Caterpillar just got bulldozed by a double downgrade from UBS. One expert disagrees with the call.
Caterpillar just got bulldozed by UBS. The firm gave a rare double downgrade from buy to sell with analysts warning that an earnings decline in 2020 had not yet been priced into the stock. Mark Tepper, president and founder of Strategic Wealth Partners, disagrees. "I wouldn't be running away from this stock. I think the double downgrade was excessive," Tepper said Tuesday on CNBC's"Trading Nation." UBS' call is an outlier on the Street.
"Loan growth is on fire and commercial and industrial loan growth is leading the way, growing by over 10 percent per year so that loan growth is good for profit growth. So we think there's potential for the stock to go up from here." But Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Tuesday he is"still dubious" on the stock given global growth fears.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A gamble in France could cost UBS dearA court in France fines the Swiss bank €3.7bn for tax evasion
Read more »
UBS Told To Pay $5 billion By French Court In Tax Fraud CaseUBS was ordered to pay $5 billion for its role in helping French citizens avoid billions in taxes. UBS' earning for the year are expected to be $4 billion ... so it's going to be a year that UBS misses.
Read more »
French court ruling due in UBS $6 billion tax caseA French court will rule on Wednesday whether UBS, Switzerland's largest ba...
Read more »
UBS ordered by court to pay French state 800 million euros in damagesA French court on Wednesday ordered UBS to pay the French state 800 million euro...
Read more »
UBS slams French verdict in tax evasion trialUBS slammed a French court verdict on Wednesday ordering the Swiss bank to pay 4...
Read more »
UBS to appeal after fined 4.5 billion euros in French tax fraud caseA French court found Swiss bank UBS AG guilty of illegally soliciting clients an...
Read more »
UBS ordered to pay record $5.1-billion fine for helping French clients hide assetsA Paris court found the bank guilty of money laundering between 2004 and 2012 by assisting wealthy customers stash undeclared funds in Switzerland where it is based.
Read more »