UBBS on N. American Land Transportation Equipment: Pit Stop for Truck Cycle - Cutting Estimates on PCAR, NAV, DAN & MTOR
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Price: $131.32 +1.85%
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBBS on N. American Land Transportation Equipment: Pit Stop for Truck Cycle
Analyst, Henry Kirn, said, "Truckers continue to report better business conditions & pricing, but survey responses on truck purchases point to more moderate growth than indicated by previous surveys. Separately, we asked truckers about 2010 engine performance & thoughts on Navistar trucks. While truckers did not generally see NAV’s pending EPA certification as impacting their purchase decision, they were on average less likely to buy a Navistar truck than they were a year ago."
"We are lowering forward estimates for PACCAR (Nasdaq: PCAR), Navistar (NYSE: NAV), Volvo, Danaher (NYSE: DAN) & Meritor (Nasdaq: MTOR). Also, we are lowering PCAR, NAV, Volvo & MTOR price targets...While we are lowering our Class 8 truck build estimates, we believe the slower growth rates are largely in shares and maintain our Buy ratings on PCAR, NAV, Cummins (NYSE: CMI), Volvo, Daimler, DAN and Swift Transportation (Nasdaq: SWFT). We also maintain our Neutral ratings on Eaton (NYSE: ETN), MTOR, Knight Trans (NYSE: KNX), Heartland Express (Nasdaq: HTLD), and Werner (Nasdaq: WERN)."
Analyst, Henry Kirn, said, "Truckers continue to report better business conditions & pricing, but survey responses on truck purchases point to more moderate growth than indicated by previous surveys. Separately, we asked truckers about 2010 engine performance & thoughts on Navistar trucks. While truckers did not generally see NAV’s pending EPA certification as impacting their purchase decision, they were on average less likely to buy a Navistar truck than they were a year ago."
"We are lowering forward estimates for PACCAR (Nasdaq: PCAR), Navistar (NYSE: NAV), Volvo, Danaher (NYSE: DAN) & Meritor (Nasdaq: MTOR). Also, we are lowering PCAR, NAV, Volvo & MTOR price targets...While we are lowering our Class 8 truck build estimates, we believe the slower growth rates are largely in shares and maintain our Buy ratings on PCAR, NAV, Cummins (NYSE: CMI), Volvo, Daimler, DAN and Swift Transportation (Nasdaq: SWFT). We also maintain our Neutral ratings on Eaton (NYSE: ETN), MTOR, Knight Trans (NYSE: KNX), Heartland Express (Nasdaq: HTLD), and Werner (Nasdaq: WERN)."
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