Deutsche Bank Starts PACCAR (PCAR) at Hold

September 6, 2016 4:41 PM EDT
Get Alerts PCAR Hot Sheet
Price: $67.63 +4.97%

Rating Summary:
    7 Buy, 15 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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."

For an analyst ratings summary and ratings history on PACCAR click here. For more ratings news on PACCAR click here.

Shares of PACCAR closed at $59.21 yesterday.



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