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Dec 1 (Reuters) - Caterpillar Inc :
* Caterpillar - "encouraged by potential of U.S. infrastructure bill, tax reform, smart regulation, commodity prices and the recent OPEC announcement"
* On track for over $2 billion of period and variable cost reduction for the FY 2016
* FY 2017 Thomson First Call consensus estimates of EPS of $3.25 on $38 billion sales is "too optimistic considering expected headwinds"
* Thomson First Call consensus estimate of $38 billion in FY 2017 sales and revenue is "reasonable midpoint expectation"
* FY2017 earnings per share view $3.25, revenue view $38.13 billion -- Thomson Reuters I/B/E/S
* Oil prices remain "volatile and not high enough to drive substantial investment" in 2017
* 2017 outlook for construction in China "generally positive" but dependent on continued government support for growth
* Economic growth in Europe, and impact of Brexit on growth is a concern
* Potential infrastructure bill in U.S. a positive, but little impact expected in 2017 Source text: bit.ly/2gDoBbp Further company coverage: