Goldman tells clients to put the coronavirus fears aside and buy Caterpillar, sees 20% upside

Construction machinery of the US producer Caterpillar can be seen at the BLG Logistics Group Car Terminal, ready for shipping in Bremerhaven, Germany, 12 June 2017. Photo: Ingo Wagner/dpa (Photo by Ingo Wagner/picture alliance via Getty Images)
Ingo Wagner | picture alliance | Getty Images

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Goldman Sachs upgraded Caterpillar on Thursday and said it sees an "attractive" risk/reward and 20% upside ahead as fundamentals appear to be strengthening despite the risk of a slowing China.

The shares of the machinery equipment giant are off by 5% this year on concern about a deceleration in sales to markets in China due to the coronavirus.

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