Deutsche Bank Starts PACCAR (PCAR) at Hold
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Deutsche Bank initiated coverage on PACCAR (NASDAQ: PCAR) with a Hold rating and a price target of $63.
Analyst Nicole DeBlase said, "We would characterize PACCAR as a best-in-class truck OEM, with low double-digit ROIC and a strong historical commitment to returning cash to shareholders (4.0% divi yield). The company has also enjoyed much success with its proprietary MX engine platform, driving penetration from zero in 2010 to 47% today. This should create a larger base of more stable Parts revenue in the next upcycle, especially as a growing population of trucks with MX engines reaches the ‘sweet spot’ for engine parts consumption, 6-10 years of age. We believe that this will reduce PCAR’s EPS volatility vs. prior cycles."
Shares of PACCAR closed at $59.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!