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Fly News Breaks for January 9, 2020
PCAR
Jan 9, 2020 | 05:59 EDT
Cowen analyst Matt Elkott initiated coverage of Paccar with an Underperform rating and $66 price target. The analyst forecasts a 36% North America Class 8 production decline in 2020, "steeper than most projections." He estimates ~60% of Paccar's earnings are related to the North America heavy-duty market, and models for a 25% earnings drop this year to $5.15, followed by 2% growth to $5.25, with both below consensus.
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