Caterpillar Inc (NYSE:CAT) shares are retreating Wednesday after Baird stripped the heavy equipment maker of its bullish rating and delivered an aggressive price target reduction.

CAT stock pulled Dow Jones Industrial Average futures lower after Baird downgraded the heavy equipment giant, citing New York's data center moratorium.

Wall Street analysts changed outlook for top names, including CAT, OKE, BRO, YSS, and CSGP. See what other analysts think about buying CAT stock.