11.10.2009

CAT to increase prices

Caterpillar has announced that it plans to increase prices on most of its product line by two percent next year.

The earthmoving and telehandler manufacturer has said that the increase would reflect "current industry factors and current and expected general economic conditions."

The information was contained in one of the company’s regular SEC filings. At the same time Morgan Stanley raised its target price for the company’s shares to $44 from $34, saying it now expects equipment sales to increase by two percent in 2010, its earlier forecast had predicted a four percent decline.