CNBC Pro

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

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.

More In Street Calls

This boutique yoga and Pilates workout stock is an industry leader with 30% upside, Citi says
CNBC ProThis boutique yoga and Pilates workout stock is an industry leader with 30% upside, Citi says
JPMorgan double downgrades Royal Caribbean Group, says it's 'more vulnerable' to macro pressures
CNBC ProJPMorgan double downgrades Royal Caribbean Group, says it's 'more vulnerable' to macro pressures
Here are Tuesday's biggest analyst calls: Tesla, Apple, JPMorgan Chase, GE, Starbucks, Costco & more
CNBC ProHere are Tuesday's biggest analyst calls: Tesla, Apple, JPMorgan Chase, GE, Starbucks, Costco & more