Fly News Breaks for May 17, 2019
May 17, 2019 | 09:15 EDT
BMO Capital analyst Joel Tiss raised his price target on Paccar to $70 after meeting with its CFO to discuss the product cycles of the company's "various truck markets", along with its international expansion opportunity and business growth potential. The analyst notes that the commentary around Europe was "stronger" than expected while the discussion about China was also "more interesting" for investment in that market over the longer term. Tiss raises his FY19 and FY20 EPS view by 30c and 45c to $6.90 and $5.80 respectively but also keeps his Market Perform rating on the stock, warning about the headwinds of higher cost environment and the possibility of an undershoot in truck production.
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