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Fly News Breaks for October 20, 2015
NAV, CMI, PCAR
Oct 20, 2015 | 05:46 EDT
UBS analyst Steven Fisher downgraded PACCAR (PCAR) after his firm's quarterly truck survey indicated moderating strength in North American truck demand. A 10%-20% decline in Class 8 production is possible, making share outperformance less likely, Fisher tells investors in a research note. He cut his price target for shares to $56 from $77. The analyst also downgraded Cummins (CMI) this morning to Neutral and kept a Neutral rating on Navistar (NAV) with a reduced price target of $14.
News For PCAR;CMI;NAV 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.