Jefferies upgrades Caterpillar to buy, calls stock a hedge against commodity inflation

Published Tue, Mar 8 20226:10 AM EST

Jesse Pound @/in/jesse-pound @jesserpound

Caterpillar excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, Jan. 27, 2020.

Luke Sharrett | Bloomberg | Getty Images

Caterpillar could become a key part of investor's portfolio's as companies and governments react to Russia's war in Ukraine, according to investment firm Jefferies.

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