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NAV

Navistar

$35.32

1.39 (4.10%)

, CMI

Cummins

$160.01

0.94 (0.59%)

15:18
09/06/17
09/06
15:18
09/06/17
15:18

FTR says Class 8 truck orders up 50% in August, Bloomberg reports

FTR reported preliminary Class 8 truck orders of 20,700 units in August, up 50% from the same month of last year, according to Bloomberg. The truck data may impact shares of Cummins (CMI), Eaton (ETN), Paccar (PCAR) and Navistar (NAV).

NAV

Navistar

$35.32

1.39 (4.10%)

CMI

Cummins

$160.01

0.94 (0.59%)

ETN

Eaton

$71.25

0.15 (0.21%)

PCAR

Paccar

$65.29

-0.57 (-0.87%)

  • 06

    Sep

  • 13

    Sep

NAV Navistar
$35.32

1.39 (4.10%)

06/05/17
BARD
06/05/17
UPGRADE
BARD
Outperform
Navistar upgraded to Outperform from Neutral at Baird
06/07/17
AGIS
06/07/17
NO CHANGE
Target $36
AGIS
Buy
Aegis says to buy Navistar on any weakness
Aegis analyst Jeffrey Kauffman said Navistar reported a headline Q2 earnings miss but when adjusting for a $60M special charge, operating EBITDA appears to be closer to inline at $125M, and fiscal year guidance was reaffirmed. Kauffman recommends buying Navistar on any weakness and reiterates his Buy rating and a $36 price target.
06/05/17
WELS
06/05/17
NO CHANGE
WELS
May truck orders declined more than expected, says Wells Fargo
Wells Fargo analyst Andrew Casey notes May Class 5-8 truck orders increased 20% year-over-year but declined 11% from April. The month-over-month decline was driven by a 30% Class 8 order decline, partially offset by a 13% Class 5-7 order increase, Casey tells investors in a research note. He notes that May's 16,800 Class 8 order intake was well beneath his channel check-based 21,000-24,000 net order expectation. The analyst views ACT Research's truck data for May as a short-term negative for Cummins (CMI), Eaton (ETN), Paccar (PCAR) and Navistar (NAV).
06/05/17
BARD
06/05/17
UPGRADE
Target $33
BARD
Outperform
Navistar upgraded to Outperform at Baird
As previously reported, Baird analyst David Leiker upgraded Navistar to Outperform from Neutral as the company specific risk/reward looks exceedingly attractive. The analyst said the company's multi-year transformation is near an end and also cites its stabilized market share, improved visibility, and a better balance sheet. Leiker raised his price target to $33 from $32 on Navistar shares.
CMI Cummins
$160.01

0.94 (0.59%)

08/07/17
GSCO
08/07/17
DOWNGRADE
GSCO
Buy
Cummins downgraded to Buy from Conviction Buy at Goldman Sachs
08/07/17
08/07/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Teva (TEVA) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Risinger saying he underappreciated generic pricing pressure risks on Teva's dividend and expects declining earnings power, combined with high leverage equal to result in a longer recovery. 2. Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman Sachs. 3. RE/MAX Holdings (RMAX) downgraded to Equal Weight from Overweight at Stephens. 4. Intrepid Potash (IPI) downgraded to Sell from Neutral at UBS with analyst John Roberts saying that while bankruptcy risk has been "significantly reduced" since the share count was increased 60% with the March secondary, he remains concerned about the lack of long term growth in non-core income and "still depressed" core potash related income. Roberts cites valuation for his downgrade and raised his price target for Intrepid Potash shares to $2.50 from $2.00. 5. Eaton (ETN) downgraded to In Line from Outperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/05/17
BUCK
09/05/17
INITIATION
BUCK
Buy
Cummins initiated with a Buy at Buckingham
Buckingham analyst Neil Frohnapple started coverage of Cummins with a $180 price target and a Buy rating. The analyst sees the stock as "an attractive avenue to play increasing North American commercial vehicle builds over the next few years and a recovery in global off-highway markets." He thinks that the stock's risk/reward ratio is positive.
08/07/17
GSCO
08/07/17
NO CHANGE
GSCO
Deere added to Conviction Buy List, Cummins removed at Goldman Sachs
Goldman analyst Jerry Revich added Deere (DE) to the Conviction Buy List and removed Cummins (CMI) saying he sees greater cyclical upside for farm equipment compared to global truck, resulting in higher relative earnings and revenue upside for Deere. Both stocks remain Buy rated.
ETN Eaton
$71.25

0.15 (0.21%)

08/17/17
JPMS
08/17/17
DOWNGRADE
Target $70
JPMS
Underweight
Eaton downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan downgraded Eaton to Underweight citing valuation and expectations for continued multiple compression on weaker than peer organic growth. The analyst lowered her price target for the shares to $70 from $73.
08/02/17
ARGS
08/02/17
NO CHANGE
ARGS
Eaton should be bought on weakness, says Argus
Argus analyst John Eade thinks that Eaton will generate "high single digit" EPS growth over the long-term ,and he expects the company to become profitable again this year. He recommends buying the shares on weakness.
08/07/17
EVER
08/07/17
DOWNGRADE
Target $79
EVER
In Line
Eaton downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst David Raso downgraded Illinois Tool Works to In Line and cut its price target to $79 from $86 saying his updated estimates are only roughly in line with consensus and valuation is only "marginally" appealing.
PCAR Paccar
$65.29

-0.57 (-0.87%)

09/05/17
BUCK
09/05/17
INITIATION
BUCK
Neutral
Paccar initiated with a Neutral at Buckingham
Buckingham analyst Neil Frohnapple started coverage of Paccar with a $65 price target and a Neutral rating. The analyst thinks that the stock's risk/reward ratio is "balanced at this time."
07/06/17
UBSW
07/06/17
NO CHANGE
Target $75
UBSW
Sell
UBS incrementally more positive on Paccar after truck survey
UBS analyst Steven Fisher says his firm's latest proprietary truck survey showed positive preliminary results. Of the 50 independent U.S. trucking company responses, 55% said business conditions are better than last year, 70% expect freight demand to grow in the second half of the year and 75% expect truckload capacity to tighten over the next 12 months, Fisher tells investors in a research note. The analyst thinks increased freight demand and tighter truckload capacity could result in additional truck purchases and is incrementally more positive on shares of Paccar. He reiterates a Buy rating on the name with a $75 price target.
06/15/17
06/15/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. La Quinta (LQ) upgraded to Overweight from Equal Weight at Morgan Stanley with the firm's analyst indicating a more bullish outlook for lodging demand given the stronger economy and raised La Quinta estimates, and notes shares have underperformed year-to-date. 2. Paccar (PCAR) upgraded to Buy from Neutral at Goldman Sachs with analyst Jerry Revinch saying he is positive on the company's prospects to further improve its industry-leading returns on capital. 3. Thomson Reuters (TRI) upgraded to Outperform from Neutral at Macquarie with analyst Giasone Salati saying he now believes the company is well positioned for what might be a once-in-a-decade boost in demand for services by MIFID II investment firms. 4. Beazer Homes (BZH) upgraded to Outperform from Neutral at Wedbush with analyst Jay McCanless citing what he sees as "the loosening of credit standards at Fannie Mae (FNMA)." 5. Enterprise Products (EPD) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Tom Abrams citing relative valuation and said the company should benefit from improving ethane markets over the next few years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/15/17
GSCO
06/15/17
UPGRADE
GSCO
Buy
Paccar upgraded to Buy from Neutral at Goldman Sachs
Goldman analyst Jerry Revinch upgraded Paccar to Buy and maintained a $79 price target saying he is positive on the company's prospects to further improve its industry-leading returns on capital. Revinch sees upside to consensus estimates driven by US engines generating aftermarket sales and manufacturing footprint expansion slowing. From a cyclical standpoint, he expects electronic logging standards in the US to drive a re-acceleration in the US truck cycle in 2018.

TODAY'S FREE FLY STORIES

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HMC

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BHGE

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$30.91

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, GE

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IBM

IBM

$148.97

-0.15 (-0.10%)

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GE

General Electric

$18.21

-0.04 (-0.22%)

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GE

General Electric

$18.21

-0.04 (-0.22%)

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TWX

Time Warner

$88.72

0.71 (0.81%)

, T

AT&T

$34.51

-0.01 (-0.03%)

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TWX

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$88.72

0.71 (0.81%)

T

AT&T

$34.51

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NYT

New York Times

$17.65

0.05 (0.28%)

TEX

Terex

$44.82

0.8 (1.82%)

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TPIC

TPI Composites

$19.06

-0.97 (-4.84%)

07:25
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  • 05

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SYNA

Synaptics

$38.21

0.57 (1.51%)

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  • 18

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

BRCD

Brocade

IVR

Invesco Mortgage

$17.36

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TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

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WGL

WGL Holdings

$84.32

-0.14 (-0.17%)

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Tactile Systems

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IVR

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$17.36

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MKS Instruments

$103.50

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Brocade

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UQM

UQM Technologies

$1.18

0.015 (1.29%)

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GS

Goldman Sachs

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VICL

Vical

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LGND

Ligand

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LGND

Ligand

$140.31

-1.4 (-0.99%)

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LGND

Ligand

$140.31

-1.4 (-0.99%)

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MBI

MBIA

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RBCN

Rubicon

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