Jefferies Maintains a 'Buy' on PACCAR (PCAR); Cutting Estimates on Truck Forecasts & FX
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Price: $130.79 +0.05%
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Buy' on PACCAR (NASDAQ: PCAR) price target of $48.00 (from $55.00)
Analyst, Stephen Volkmann, said, "We have lowered our Class 8 industry build forecast to 275k from 285k and adjust our estimates accordingly. We also factor in a lower Euro (1.23 vs. 1.30 previously) and mark quarterly share to market...Additionally, with European heavy duty truck registrations down 15% year to date through May, we are also lower our European truck forecast to 200k (-15% yoy) from 220k as the macro-environment continues to weigh."
FY12 EPS estimate lowered from $3.35 to $3.20, FY13 from $4.00 to $3.90 and FY14 from $4.45 to $4.40.
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 $36.28 yesterday.
Analyst, Stephen Volkmann, said, "We have lowered our Class 8 industry build forecast to 275k from 285k and adjust our estimates accordingly. We also factor in a lower Euro (1.23 vs. 1.30 previously) and mark quarterly share to market...Additionally, with European heavy duty truck registrations down 15% year to date through May, we are also lower our European truck forecast to 200k (-15% yoy) from 220k as the macro-environment continues to weigh."
FY12 EPS estimate lowered from $3.35 to $3.20, FY13 from $4.00 to $3.90 and FY14 from $4.45 to $4.40.
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 $36.28 yesterday.
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