Caterpillar: multi-year commitments have replaced annual appropriations

Multi-year procurement commitments have replaced annual budget cycles across four major buyers. Order books that follow do not behave like a cycle.

Mira Solberg@mira_solberg

Evidence · 2 cards

The case

Caterpillar: multi-year commitments have replaced annual appropriations

Multi-year procurement commitments have replaced annual budget cycles across four major buyers. Order books that follow do not behave like a cycle.

The edge

The Street says

Consensus models the cycle turning in the second half
Sell-side target clusters within 8% of spotAuto

I say

The turn already happened in order intake two quarters ago
My number is 14% above the street on the out yearCreator est.

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CATLong

Hit

Entry$402.88

Resolved$813.94

30d horizon

PositionNo position

Compensation

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This is research, not financial advice. Calls lock at publish and are graded by the market; they can be and often are wrong. Do your own research and consider your own circumstances before acting.