Goldman Sachs Cuts Numbers on Paccar (PCAR) On Lower Operating Leverage
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Price: $126.20 -0.37%
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
Rating Summary:
12 Buy, 22 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
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Goldman Sachs cut estimates and its price target on Neutral-rated PACCAR (NASDAQ: PCAR) from $62 to $49 following Q2 results.
The firm cut 2011-2013 EPS by an average of 10% to $2.68/ $3.54/ $4.06.
Goldman notes Q2 results revealed sharply lower incremental margins, which they believe were driven primarily by price increases lagging cost inflation, and lower aftermarket mix.
For more ratings news on PACCAR click here and for the rating history of PACCAR click here.
Shares of PACCAR closed at $45.02 yesterday.
The firm cut 2011-2013 EPS by an average of 10% to $2.68/ $3.54/ $4.06.
Goldman notes Q2 results revealed sharply lower incremental margins, which they believe were driven primarily by price increases lagging cost inflation, and lower aftermarket mix.
For more ratings news on PACCAR click here and for the rating history of PACCAR click here.
Shares of PACCAR closed at $45.02 yesterday.
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