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Fly News Breaks for March 4, 2020
ALSN, WBC, ETN, CMI, PCAR, NAV
Mar 4, 2020 | 08:03 EDT
According to ACT Research, Class 8 net orders in February were 14,100 units, down 16% year-over-year and 18% month-over-month, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN). Further, ACT Research noted the Class 8 backlog is likely to fall 6,600 units to 112,400 units at the end of February, adds the analyst. She notes that truck and truck components group outperformed the broader market in 2019 but has underperformed so far in 2020. Leading indicators are weak with the ISM New Orders Index down 2.2 points month-over-month to 49.8 in February, down 9.3% year-over-year, says Duignan.
News For NAV;PCAR;CMI;ETN;WBC;ALSN From the Last 2 Days
PCAR
Apr 13, 2021 | 13:32 EDT
Welcome to The Fly's latest edition of "Charged," where we look back at some recent analysts' notes, news and activity in the electric vehicle and clean energy space.  NEW EV CONSUMER... To see the rest of the story go to thefly.com. See Story Here
ETN
Apr 13, 2021 | 06:46 EDT
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on Eaton to $156 from $139 and keeps a Buy rating on the shares. The analyst expects earnings beats to continue this quarter for the multi-industry group, but she expects the beats to "look less extreme." Further, the Q1 results are backward-looking, and companies may opt to leave rest-of-year guidance unchanged, given growing risk of supply chain constraints and "price/cost margin pinch as the recovery marches on," Deblase tells investors in a research note.
CMI
Apr 13, 2021 | 06:45 EDT
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on Cummins to $260 from $252 and keeps a Hold rating on the shares. The analyst expects earnings beats to continue this quarter for the multi-industry group, but she expects the beats to "look less extreme." Further, the Q1 results are backward-looking, and companies may opt to leave rest-of-year guidance unchanged, given growing risk of supply chain constraints and "price/cost margin pinch as the recovery marches on," Deblase tells investors in a research note.