Caterpillar downgraded to Hold from Buy at Stifel

Stifel downgraded Caterpillar to Hold from Buy with a price target of $350, up from $293, after the company reported Q1 results. The firm noted that Q1 sales were “modestly” below expectations, though EBIT and EPS were ahead of consensus estimates. Results also reflected weaker end user sales, the analyst tells investors in a research note.