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Issue Date: November 6, 2009, Posted On: 11/3/2009


Caterpillar says it will raise prices in 2010
  BOSTON — Caterpillar Inc, the world’s largest maker of earth moving equipment, said recently it plans to raise prices on most of its machinery up to 2 percent next year.
  The U.S. manufacturer said in a filing with the Securities and Exchange Commission the increase would reflect “current industry factors and current and expected general economic conditions.”
  Separately, Morgan Stanley raised its target price on the Peoria, IL based company’s shares, which it rates “underweight,” to $44 from $34, saying it now expects machinery sales to rise 2 percent next year. Previously it had forecast a 4 percent decline.
  Caterpillar shares were up 3 percent at $50.25 on the New York Stock Exchange in early trading. So far this year they are up 9 percent, outpacing the 8 percent rise of the Dow Jones industrial average.


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