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Bearish on the sharp downward revision, while noting the revised target still implies upside from the posted price.
What happened, with direct paths to the underlying reporting
Wells Fargo reduced its CAT price target by about 27%, a substantial negative revision. The new $840 target remains above the $687 posted price, so the update signals a weaker outlook rather than an outright below-market target.
Target: $840
Posted price: $687
Analyst firm: Wells Fargo
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