Option Millionaires

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CAT - upgraded by our friends ad JPM


) Diminished expectations for Caterpillar (CAT) make the stock attractive, JPMorgan says, and CAT's multiple will likely improve as investors grow more comfortable that 2009 will be CAT's trough year. Firm upgrades CAT to overweight from neutral. CAT's liquidity risk lessened since it generated $895M in operating cash flow in 1Q, ended the quarter with $3.5B free cash and plans to add $650M common stock to its pension plan. Some of CAT's business regions also appear to be reaching trough demand, JPMorgan says, and risks of further deterioration in its financial arm are largely baked into the stock. CAT flat premarket to $31.39. (EBW)