Caterpillar stock could be hit by the bank panic. Why does an analyst say sell.

caterpillars

One analyst said the stock could be hit by trouble in the banking sector, causing the stock to be downgraded.

Regional Bank panic can impact any number of industries, including construction. That’s not good news for companies that manufacture and lease construction equipment, said the Baird analyst. Mig Dobrewho downgraded the shares of

caterpillars

(code: CAT) and

Flowers for rent

(URI) to Sell from Hold. His Caterpillar price target drops to $185 from $230 a share. Dobre’s United Rentals target has increased to $300 from $425 a share. Cat shares fell 1.6% in premarket trading to $213.50. Shares of United Rentals fell 1.2 percent to $366.37.

S&P 500

And

Dow Jones Industrial Average

all tenors increased by about 0.5%.