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Fly News Breaks for March 2, 2018
PCAR
Mar 2, 2018 | 07:38 EDT
Morgan Stanley analyst Courtney Yakavonis started coverage of truckmakers and suppliers, stating she sees limited upside to OEMs from EPS revisions and thinks potential electric vehicle disruption could pressure their multiples. Yakavonis, who thinks NAFTA Class 8 sales will peak in 2018 and is below consensus for 2019, started Paccar with an Underweight rating and $69 price target, stating that it is highly levered to the NAFTA Class 8 cycle.
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