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PCAR

Paccar

, MTOR

Meritor

$18.46

0.015 (0.08%)

06:45
01/14/19
01/14
06:45
01/14/19
06:45

Piper names Paccar, Meritor highest conviction truck ideas

Downside risk is limited for Paccar (PCAR) and Meritor (MTOR), even if a recession is coming in 2020, Piper Jaffray analyst Alexander Potter tells investors in a research note. After examining "the degree to which truck stock valuations have fallen far enough to reflect a worst-case (recessionary) scenario," the analyst names Paccar and Meritor his highest conviction truck ideas. He believes that if expectations for a recession continue rising, stocks like Allison Transmission (ALSN) and Navistar (NAV) "would probably fare less well." These stocks would need to fall by 39% and 44%, respectively, before they fully reflected a recessionary outlook, says Potter.

PCAR

Paccar

MTOR

Meritor

$18.46

0.015 (0.08%)

ALSN

Allison Transmission

$47.53

-0.05 (-0.11%)

NAV

Navistar

$30.47

0.37 (1.23%)

  • 29

    Jan

PCAR Paccar

01/10/19
JPMS
01/10/19
NO CHANGE
JPMS
JPMorgan changes ratings in Machinery ahead of Q4 earnings
JPMorgan analyst Ann Duignan says her U.S. Machinery coverage universe underperformed the broader market in 2018 as investors grew more concerned about the potential for a U.S. recession led by rising interest rates on top of a slowdown in international growth. As a result, the group looks "cheap" relative to the S&P 500 Index, Duignan tells investors in a research note. She also believes the selloff has been overdone for a number of stocks in her coverage. That said, the analyst thinks Eurozone growth is one of the biggest risks facing companies in space. As such, she suggests investors minimize exposure to companies with an outsized European Union mix. With this backdrop, Duignan upgraded both Oshkosh (OSK) and Trimble (TRMB) to Overweight from Neutral on valuation. She also downgraded Paccar (PCAR), Wabco (WBC) and Illinois Tool Works (ITW) to Underweight from Neutral given their exposure to Europe.
01/10/19
JPMS
01/10/19
DOWNGRADE
Target $54
JPMS
Underweight
Paccar downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan downgraded Paccar to Underweight and lowered her price target for the shares to $54 from $63.
01/07/19
VERT
01/07/19
DOWNGRADE
VERT
Sell
Paccar, Wabco, Volvo downgraded to Sell on peak concerns at Vertical Research
As previously reported, Vertical Research analyst Joseph O'Dea downgraded Paccar (PCAR), Wabco (WBC) and Volvo (VLVLY), all to Sell from Hold, citing his caution given his view that trucks are at a global cycle peak.
01/07/19
VERT
01/07/19
DOWNGRADE
VERT
Sell
Paccar downgraded to Sell from Hold at Vertical Research
MTOR Meritor
$18.46

0.015 (0.08%)

12/10/18
KEYB
12/10/18
INITIATION
KEYB
Sector Weight
Meritor initiated with a Sector Weight at KeyBanc
KeyBanc started Meritor with a Sector Weight rating.
11/15/18
PIPR
11/15/18
NO CHANGE
PIPR
Overweight
Meritor earnings report does not justify 10% selloff, says Piper Jaffray
Piper Jaffray analyst Alexander Potter says nothing in yesterday's earnings report justifies a 10% drop in shares of Meritor. While the Class 8 truck market is peaking, and 2019 will likely represent a peak for earnings, investors should own Meritor ahead of the company's analyst day on December 6, Potter tells investors in a research note. He reiterates an Overweight rating on the shares.
09/14/18
PIPR
09/14/18
NO CHANGE
Target $37
PIPR
Overweight
Meritor should be bought ahead of December analyst day, says Piper Jaffray
Piper Jaffray analyst Alexander Potter reiterates an Overweight rating on shares of Meritor after visiting the company's joint venture in China. The analyst believes China represents an underappreciated aspect of the Meritor thesis, with a medium-term incremental revenue opportunity "easily totaling" hundreds of millions of dollars. The analyst recommends owning the stock ahead of the analyst day in December. He keeps a $37 price target on the shares.
03/13/18
LBOW
03/13/18
NO CHANGE
Target $32
LBOW
Buy
Longbow says recent weakness in Meritor shares unwarranted
Longbow analyst Faheem Sabeiha believes recent weakness in Meritor shares, attributed to fears from material cost headwinds and concerns that North American Class 8 market is peaking in 2018, is unwarranted. Sabeiha, who sees this as a great entry point into Meritor given the strong Class 8 fundamentals and its longer-term opportunities from its electric vehicle exposure, reiterates a Buy rating and $32 price target on the stock.
ALSN Allison Transmission
$47.53

-0.05 (-0.11%)

12/05/18
JPMS
12/05/18
NO CHANGE
JPMS
Class 8 truck orders dropped 15% in November, says JPMorgan
Preliminary Class 8 truck orders for November fell 15% year-over-year to 27,900 units according to ACT Research, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that November represents the first year-over-year monthly decline in 2018. The names she covers that have the largest exposure to Class 8 truck orders are Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN).
11/29/18
MACQ
11/29/18
DOWNGRADE
MACQ
Underperform
Allison Transmission downgraded to Underperform from Neutral at Macquarie
01/04/19
JPMS
01/04/19
NO CHANGE
JPMS
Class 8 truck orders dropped 43% in December, says JPMorgan
Preliminary Class 8 truck orders for December fell 43% year-over-year to 21,300 units according to ACT Research, JPMorgan analyst Ann Duignan tells investors in a research note. This represents the second consecutive year-over-year decline in 2018 and a 25-month low on a seasonally adjusted basis, says Duignan. The analyst believes overall U.S. macro indicators for truck demand are mixed. The names she covers that have the largest exposure to Class 8 truck orders are Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN).
11/19/18
JPMS
11/19/18
NO CHANGE
JPMS
Class 8 truck retail sales up 29% in October, says JPMorgan
JPMorgan analyst Ann Duignan noted that ACT Research released final truck data for October, reporting that North American Class 8 retail sales of 30,676 units, up 29% year-over-year. Net orders of 43,300 units were up 20% and the cancellation rate increased to 20.1%, which may be a healthy sign if OEMs are challenging dealer orders for inventory, Duignan added. Class 8 truck order data may impact Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN) and Allison Transmission (ALSN).
NAV Navistar
$30.47

0.37 (1.23%)

12/24/18
BMOC
12/24/18
NO CHANGE
Target $35
BMOC
Market Perform
Navistar may struggle with multiple expansion on peaking cycle, says BMO Capital
BMO Capital analyst Joel Tiss lowered his price target on Navistar to $35 from $40 and kept his Market Perform rating, saying that while the company is achieving higher profitability through improvement in product line-up, investors should be patient. The analyst notes that a "significant multiple expansion" for the stock would be difficult amid a peaking North American Class 8 cycle, warning that the timing, duration, and depth of the downturn are difficult to forecast. Tiss is also raising his FY19 EPS view to $3.55 from $3.25 but lowers his FY20 view to $2.75 from $3.40.
12/20/18
LOOP
12/20/18
NO CHANGE
Target $44
LOOP
Buy
Loop Capital affirms Buy rating on Navistar after 'strong' Q4 results
Navistar continues to report better than expected growth, driven by a strong Class 8 market and share gains due to new product launches, Loop Capital analyst Jeffrey Kauffman tells investors in a research note. The analyst reaffirms a Buy rating on the shares with a $44 price target. Investors have given management credit for Navistar's financial turnaround, but not for the upside that exists as a result of market share gains and potential strategic opportunities, says Kauffman. He views the company's Q4 results this week as "strong."
12/19/18
RBCM
12/19/18
NO CHANGE
Target $32
RBCM
Sector Perform
Navistar price target lowered to $32 from $45 at RBC Capital
RBC Capital analyst Seth Weber lowered his price target on Navistar to $32 and kept his Sector Perform rating, saying that while the company is executing well with market share gains in the currently "healthy" environment, he is concerned with the "truck cycle duration" relative to its investment sentiment and valuation. The analyst lowers his FY19 EBITDA view to $885M from $905M to account for his mixed outlook and also states that his neutral stance reflects his "caution on relatively modest implied incremental margins and cycle peak debate".
12/19/18
BARD
12/19/18
NO CHANGE
Target $54
BARD
Outperform
Navistar upside opportunity just beginning, says Baird
Baird analyst David Leiker said the Navistar turnaround is officially in the rearview mirror and yesterday's move is "just the beginning" of what he sees as an opportunity for upside. The analyst sees market share gains, improving margins, and improvement in the balance sheet as all contributing to upside. Leiker reiterated his Outperform rating and raised his price target to $54 from $53 on Navistar shares.

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Comcast

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COST

Costco

$213.59

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Illumina

$312.66

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TMO

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$240.72

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DHR

Danaher

$107.43

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A

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$71.93

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TECH

Bio-Techne

$163.24

1.16 (0.72%)

NEM

Newmont Mining

$31.77

0.15 (0.47%)

GOLD

Barrick Gold

$11.78

-0.11 (-0.93%)

KRC

Kilroy Realty

$68.23

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VNO

Vornado

$66.40

1.04 (1.59%)

TCEHY

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NTDOY

Nintendo

$0.00

(0.00%)

17:55
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T

AT&T

$30.95

0.32 (1.04%)

, CMCSA

Comcast

$36.21

0.32 (0.89%)

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AT&T

$30.95

0.32 (1.04%)

CMCSA

Comcast

$36.21

0.32 (0.89%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$50.16

0.66 (1.33%)

FOX

21st Century Fox

$48.38

0.32 (0.67%)

FOXA

21st Century Fox

$48.74

0.34 (0.70%)

LGF.A

Lionsgate

$18.25

0.23 (1.28%)

DIS

Disney

$110.97

-0.02 (-0.02%)

VIAB

Viacom

$30.09

0.3 (1.01%)

VIA

Viacom

$33.15

0.2 (0.61%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

16:46
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Trump says deal with China 'could very well happen,' Reuters reports »

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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GM

General Motors

$38.63

0.35 (0.91%)

16:44
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General Motors warns workers in Brazil on losses, Reuters reports »

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S&P 500

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SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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TSLA

Tesla

$302.26

-45.18 (-13.00%)

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SFTBY

SoftBank; also use SFTBF

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FUJHY

Subaru

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Mazda Motor

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PCRFY

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SPDR S&P 500 ETF Trust

$266.44

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Facebook

$150.01

1.77 (1.19%)

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

13:06
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CLSD

Clearside Biomedical

$1.16

0.02 (1.75%)

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TCEHY

Tencent

$0.00

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BAE Systems

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

, COST

Costco

$213.59

2.15 (1.02%)

12:50
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Costco might be 'good buy' following 2018 pullback, Barron's says »

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Amazon.com

$1,696.01

4.01 (0.24%)

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Costco

$213.59

2.15 (1.02%)

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VNO

Vornado

$66.40

1.04 (1.59%)

, KRC

Kilroy Realty

$68.23

0.21 (0.31%)

12:45
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Vornado

$66.40

1.04 (1.59%)

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Kilroy Realty

$68.23

0.21 (0.31%)

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GOLD

Barrick Gold

$11.78

-0.11 (-0.93%)

, GG

Goldcorp

$10.37

0.04 (0.39%)

12:41
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Gold mining stocks 'an unalloyed bargain,' Barron's says »

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Barrick Gold

$11.78

-0.11 (-0.93%)

GG

Goldcorp

$10.37

0.04 (0.39%)

NEM

Newmont Mining

$31.77

0.15 (0.47%)

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TECH

Bio-Techne

$163.24

1.16 (0.72%)

, A

Agilent

$71.93

1.16 (1.64%)

12:29
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Rising demand benefiting Illumina, Thermo Fisher, Barron's says »

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TECH

Bio-Techne

$163.24

1.16 (0.72%)

A

Agilent

$71.93

1.16 (1.64%)

DHR

Danaher

$107.43

1.88 (1.78%)

TMO

Thermo Fisher

$240.72

2.55 (1.07%)

ILMN

Illumina

$312.66

2.53 (0.82%)

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