|Over a week ago|
Paccar price target raised to $87 from $72 at Credit Suisse » 08:5307/2207/22/20
Credit Suisse analyst…
Credit Suisse analyst Jamie Cook raised the firm's price target on Paccar to $87 from $72 and keeps a Neutral rating on the shares. The analyst notes that the company reported a strong earnings beat and looking ahead to the third quarter, Paccar expects production to be up sequentially, although not quantified, with Q3 deliveries more comparable to Q1 levels.
Paccar price target raised to $92 from $80 at JPMorgan » 08:2407/2207/22/20
JPMorgan analyst Ann…
JPMorgan analyst Ann Duignan raised the firm's price target on Paccar to $92 from $80 and keeps an Overweight rating on the shares following the company's Q2 results. Improving truck volumes and parts sales will support gross margins going forward, Duignan tells investors in a research note.
Paccar price target raised to $108 from $95 at Deutsche Bank » 07:5907/2207/22/20
Deutsche Bank analyst…
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on Paccar to $108 from $95 and keeps a Buy rating on the shares. The analyst sees "upward momentum" to consensus earnings forecasts following the company's Q2 beat.
Paccar reports Q2 EPS 43c, consensus 31c » 08:1607/2107/21/20
Reports Q2 revenue…
Reports Q2 revenue $3.06B, consensus $2.88B. "PACCAR achieved good quarterly revenues and net income in the second quarter of 2020," said Preston Feight, CEO. "PACCAR closed its factories for five weeks at the beginning of the quarter and has gradually resumed production while enhancing operating processes and procedures for employee health and well-being, manufacturing efficiency and customer satisfaction. I am very proud of our outstanding employees who delivered excellent production and distribution performance while enhancing PACCAR's rigorous health and safety standards."
Paccar price target raised to $92 from $80 at Wells Fargo » 07:5207/2007/20/20
Wells Fargo analyst…
Wells Fargo analyst Andrew Casey raised the firm's price target on Paccar to $92 from $80 ahead of quarterly results. The analyst keeps an Overweight rating on the shares on potential cyclical end market growth and cycle-to-cycle return improvement.
Paccar upgraded to Mixed from Negative at OTR Global » 09:3207/1607/16/20
OTR Global upgraded…
OTR Global upgraded Paccar to Mixed from Negative following checks that indicate Western European Q2 heavy-duty truck orders and the 2020 sales outlook are less negative than expected.
|Over a month ago|
Paccar price target raised to $80 from $77 at JPMorgan » 09:0607/0107/01/20
PCAR, CMI, ALSN
JPMorgan analyst Ann…
JPMorgan analyst Ann Duignan raised the firm's price target on Paccar (PCAR) to $80 from $77 and keeps an Overweight rating on the shares. The California Air Resources Board last week approved the first statewide zero-emission commercial truck requirement, the Advanced Clean Trucks rule, Duignan tells investors in a research note. By 2045, every new truck sold in California will have to be zero-emission, adds the analyst. Paccar and Cummins (CMI) are positioned as winners while Allison Transmission (ALSN) stands to lose most as it faces increasing demand headwinds for its core products and growing competition for its alternative drivetrain solutions, says Duignan.
Paccar resumed with a Buy at Deutsche Bank » 06:4807/0107/01/20
Deutsche Bank analyst…
Deutsche Bank analyst Nicole DeBlase resumed coverage of Paccar with a Buy rating and $91 price target. The analyst resumed coverage of the U.S. Machinery industry with Buy ratings on four and Hold ratings on five. At this point in the cycle, Deblase does not see "significant alpha generation opportunity" through outright Sell ratings within this group.
EU commercial vehicle registrations down 44.4% in May » 08:1606/2406/24/20
DDAIF, PCAR, CNHI, NAV, CMI, ALSN
In May, EU commercial…
In May, EU commercial vehicle registrations decreased by 44.4%, although the decline was less pronounced than in April as measures to contain COVID-19 were relaxed, reported the European Automobile Manufacturers Association. Demand fell across all commercial vehicle segments, contributing to the sharp decline recorded last month. Looking at the four largest markets of the EU, Spain and Germany saw the biggest losses in May, followed by Italy and France, the group said. Publicly traded truck makers and suppliers include Daimler AG (DDAIF), Paccar (PCAR), CNH Industrial (CNHI), Navistar (NAV), Cummins (CMI) and Allison Transmission (ALSN). Reference Link
North America Class 8 retail sales down 61% in May, says JPMorgan » 09:3006/1706/17/20
NAV, PCAR, CMI, ALSN
ACT Research released…
ACT Research released final truck data for May and North America Class 8 retail sales were down 61% year-over-year to 11,717 units in May and down 39% year-to-date, JPMorgan analyst Ann Duignan tells investors in a research note. Builds were down 79% year-over-year to 6,789 units in the month and down 54% year-to-date, the analyst adds. Duignan says truck demand has the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI) and Allison Transmission (ALSN).