Caterpillar to raise prices in 2010
By Andy Bateman
Oct 5, 2009 – A Reuters
report this morning says that Caterpillar Inc., the world's largest maker of
earth-moving equipment, plans to raise prices on most of its machinery up to two
per cent next year.
The U.S. manufacturer
said in a filing with the Securities and Exchange Commission the increase would
reflect "current industry factors and current and expected general
Separately, Morgan Stanley raised its target price on the Peoria,
Illinois-based company's shares, which it rates "underweight," to $44
from $34, saying it now expects machinery sales to rise two percent next year.
Previously it had forecast a 4 percent decline.
Caterpillar shares were up three percent at $50.25 on the New York Stock
Exchange in early trading. So far this year they are up nine percent, outpacing
the eight percent rise of the Dow Jones industrial average.