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Fly News Breaks for May 31, 2019
OSK, PCAR, TEX, CMI
May 31, 2019 | 08:25 EDT
As previously reported, Evercore ISI analyst David Raso downgraded Terex (TEX), Oshkosh (OSK), Cummins (CMI) and Paccar (PCAR), all to In Line from Outperform. Of the "Big 5" headwinds he previously expected to underpin his machinery sector thesis, the base case for a U.S.-China trade resolution has now been lost and the expectation for commodity prices to swing from sharp declines to solid recovery in 2019 now looks "mixed to slightly negative," Raso tells investors in his sector note.
News For CMI;TEX;PCAR;OSK From the Last 2 Days
PCAR
Mar 26, 2024 | 04:50 EDT
RBC Capital analyst Nick Housden initiated coverage of Paccar with a Sector Perform rating and $123 price target. The shares have rallied 77% year-over-year and on RBC's estimates, trade at a slight premium to the 10-year average, the analyst tells investors in a research note. At a time when truck demand is moving down and consensus margin expectations "appear optimistic, we do not think that now is the time to increase exposure," contends RBC.