JPMorgan lowered the firm’s price target on Caterpillar (CAT) to $505 from $520 and keeps an Overweight rating on the shares after the company announced that it expects a higher impact from the latest tariff announcements, with an updated full year impact of $1.5B-$1.8B, up from $1.3B-$1.5B seen previously. Following the update, the firm is lowering its estimates for 2025 and 2026 EPS to $18.13 and $20.00, respectively.
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