BUZZ-Caterpillar falls after rev miss, forecast for 2025 sales dip

Shares of Caterpillar CAT.N were down 4.7% in late morning trading Thurs after the co forecast a slight sales drop in 2025 and reported qtrly rev that missed analysts' expectations

The construction equipment maker cited dealers cutting back purchases of equipment

The co also reported before the opening bell fourth-qtr adj earnings that beat analysts' expectations

"Dealer inventories fell by $1.3bn (machines $1.6bn) versus the $0.9bn decline in 4Q23 and thus posed roughly an $0.4bn YoY headwind to revenues in 4Q," Jefferies analysts wrote in a note

The median 12-mo PT on the stock is $386.98; the stock was last at $374.69

Of the 27 analysts who cover CAT, 10 rate the stock a "strong buy" or "buy," 12 rate it a "hold" and five rate it "sell" or "strong sell," per LSEG

Including the session move, CAT is up 3.5% YTD, compared with a 5.5% gain in the Dow Jones industrial average .DJI