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Caterpillar Posts Excellent Third-Quarter Results, Record Backlog

publication date: Oct 24, 2011
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Caterpillar put up excellent third-quarter numbers and provided a strong outlook for 2012. A record order backlog and strong cash-flow conversion are two reasons to get excited about the firm. We're sticking with our above-market $110 per share fair value estimate on the construction and mining equipment maker.

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