Mizuho Securities Starts PACCAR (PCAR) at Neutral

Mizuho Securities initiates coverage on PACCAR (NASDAQ: PCAR) with a Neutral rating and a price target of $70.00.

Analyst Kristine Kubacki commented, "We are initiating coverage of PACCAR (PCAR) with a Neutral rating and a $70 price target. PCAR is a high-quality global truck manufacturer with a penchant for shareholders’ interests via strong cash flow yield and consistent returns through dividends and repurchases. We approach PCAR’s two core end-markets as both at or near cyclical peaks. While we believe truck freight will continue to grow in North America throughout 2019, we believe the North American truck market will peak in 2019. In Europe, the truck cycle is in the latter innings and economic growth is beginning to slow."

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 $61.76 yesterday.

You May Also Be Interested In

• Jefferies Starts Alebund Pharmaceuticals Jiangsu (9637:HK) at Buy
• Oppenheimer Downgrades Insulet Corporation (PODD) to Perform
• Travere Therapeutics (TVTX) PT Raised to $62 at Stifel