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Fly News Breaks for October 20, 2016
CVGI, MOD, NAV, PCAR
Oct 20, 2016 | 07:37 EDT
Seaport Global analyst Michael Shlisky said September North American truck data is a negative for the Class 8 sector. Class 8 sales declined 24% year-over-year, versus down 28% in Q3, while production declined 36%, down 35% in Q3, and orders declined 29%, versus down 40% in Q3. The analyst said PACCAR production was inline with his model for the quarter and continues to view the company as best positioned in the current environment.
News For PCAR;NAV;MOD;CVGI 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.