First Business

September 19, 2013

Caterpillar, Joy Global shares downgraded by Baird amid weak mining sector

Caterpillar Inc. and Joy Global Inc. stocks were both downgraded to â;€Âoe;neutralâ;€Â; by Robert W. Baird & Co. Inc. on Wednesday, another sign of trouble at the two equipment manufacturers struggling in a weak global mining environment.

Mig Dobre, financial analyst with Milwaukee-based Baird, downgraded Caterpillar (NYSE: CAT) stock from â;€Âoe;outperform,â;€Â; in part due to continued uncertainty in the mining sector. Peoria, Ill.-based Caterpillar has its global mining equipment headquarters in Oak Creekâ;€¦;

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