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Shares of Caterpillar Inc. CAT, +4.77% shot up 4.7% toward a six-week high in morning trading Tuesday after the construction and mining equipment company was upgraded at Jefferies, with analyst Stephen Volkmann saying the company has historically been a “strong hedge” to commodity and general inflation. The stock’s rally was enough to pace the Dow Jones Industrial Average’s DJIA, -1.93% gainers.
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