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Fly News Breaks for April 25, 2018
PCAR
Apr 25, 2018 | 07:05 EDT
As previously reported, BofA/Merrill downgraded Paccar to Neutral from Buy and cut its price target to $70 from $78. Analyst Ross Gilardi said Paccar beat Q1 earnings, but margins failed to satisfy and there is not a lot of earnings growth beyond 2019. The analyst believes positive revisions are now reflected in consensus expectations and shares appear "range-bound" with potential multiple compression.
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