UBS Maintains a 'Buy' on PACCAR (PCAR); Raising PT & Estimates Post 1Q Results

UBS maintains a 'Buy' on PACCAR (NASDAQ: PCAR), PT increased from $60 to $63.

UBS analyst says, "Reports 1Q EPS of $0.53, ahead of consensus and UBSe of $0.49...Raises 2011 U.S. & Canada industry sales forecast, maintains Europe forecast...Reflecting a better than expected op. margin profile, we are raising our 2011E, 2012E and 2.013E EPS to $2.60, $4.00 and $5.00, from $2.40, $3.85 and $4.90, respectively."

"We rate PCAR a Buy as the upcycle in trucks is just beginning, and believe the selloff (underperformed S&P 500 by 16% YTD) provides an attractive entry point for investors."

For more ratings news on PACCAR click here and for the rating history of PACCAR click here.

Shares of PACCAR closed at $52.19 yesterday.

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