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
economic conditions."
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.
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