Doubts emerge over Trump infrastructure plan

Deutsche Bank analyst Nicole DeBlase has downgraded Caterpillar shares to hold from buy.

In a note today, DeBlase raised questions about whether the Trump administration will be able to move forward with its infrastructure plan.

“Without an infrastructure stimulus, we see little prospects for continued [North America non-residential] construction growth,” DeBlase said in the note Friday, adding she has “no idea if/when infrastructure stimulus may materialize.”

Caterpillar’s stock spiked higher after President Donald Trump’s election on hopes that the new administration would be able to push through a $1 trillion infrastructure spending plan.

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