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Fly News Breaks for April 25, 2018
PCAR
Apr 25, 2018 | 07:57 EDT
As reported earlier, RBC Capital analyst Seth Weber downgraded Paccar to Sector Perform from Outperform and lowered his price target to $73 from $82. Weber says he is increasingly concerned with the company's margins due to "peak NAFTA C18 truck cycle" along with the industry's high used truck supply becoming headwinds for the stock. Despite its position as a "best-in-class operator with a strong balance sheet", the analyst sees few catalysts for Paccar that would warrant a higher valuation.
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