Caterpillar price target lowered to $208 from $210 at UBS

UBS analyst Steven Fisher lowered the firm’s price target on Caterpillar to $208 from $210 and keeps a Sell rating on the shares. The firm expected a strong Q1 margin beat, but not to this extent, and believe new data points reinforce the notion of a coming slowdown, the analyst tells investors in a research note. The firm thinks it will be a challenge for Caterpillar to continue to push price as the year progresses and doesn’t see beats of this magnitude recurring this cycle.