Analysts: Caterpillar’s Machines Trends May Deteriorate and 3 Other Research Notes to Explore

Caterpillar (NYSE:CAT): Wells Fargo says that Caterpillar’s machines trends deteriorated modestly in August and that engines decelerated more sharply, which suggests third quarter revenue is likely to fall in the low double-digit range year-over-year. Wells, which has a Market Perform rating on Caterpillar, says the implied trends seem relatively close to consensus revenue forecasts.

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Apple (NASDAQ:AAPL): Piper Jaffray says that, after observing lines in New York, San Francisco, and Minneapolis, it remains “comfortable” that Apple can sell 5-6 million 5s/5c units in the opening weekend. Piper expects Apple to announce opening weekend sales on Monday and keeps an Overweight rating on the stock with a $640 price target on the shares.

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SolarWinds (NYSE:SWI): Goldman downgraded SolarWinds to Sell from Neutral due to execution challenges from a growing product portfolio, new geographies, go-to market strategy, and secular challenges as customers shift to MSPs. The shares’ price target has been lowered to $35 from $42.

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CF Industries (NYSE:CF): Citigroup upgraded CF Industries to Buy from Neutral on its belief that nitrogen fertilizer prices are bottoming. Citi sees an attractive entry point into CF shares and raised its price target for the shares to $240 from $199.

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