UPDATE - UBS Upgrades PACCAR (PCAR) to Buy on Recent Pullback
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Price: $37.05 -0.64%
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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UPDATE - UBS upgrades PACCAR (Nasdaq: PCAR) from Neutral to Buy. PT $60.
UBS analyst said, "PCAR shares have underperformed the S&P 500 by 17% YTD, largely on concerns over margin headwinds and rising oil prices. While we view these concerns as valid, we believe the pullback more than reflects the impact these headwinds are likely to have on PACCAR’s fundamentals and see upside to shares as the upcyle in trucks in both North America and Europ is just beginning. Also, we see near-term catalysts from the Mid-America Trucking Show (3/31-4/2) and from CONEXPO (3/22-3/26). Accordingly, we view the risk/reward profile of PCAR favorably and are upgrading our rating...We maintain our 2011, 2012 and 2013 EPS estimates of $2.40, $3.85 and $4.90."
To see all upgrades/downgrades on shares of PCAR, visit our Analyst Ratings page.
UBS analyst said, "PCAR shares have underperformed the S&P 500 by 17% YTD, largely on concerns over margin headwinds and rising oil prices. While we view these concerns as valid, we believe the pullback more than reflects the impact these headwinds are likely to have on PACCAR’s fundamentals and see upside to shares as the upcyle in trucks in both North America and Europ is just beginning. Also, we see near-term catalysts from the Mid-America Trucking Show (3/31-4/2) and from CONEXPO (3/22-3/26). Accordingly, we view the risk/reward profile of PCAR favorably and are upgrading our rating...We maintain our 2011, 2012 and 2013 EPS estimates of $2.40, $3.85 and $4.90."
To see all upgrades/downgrades on shares of PCAR, visit our Analyst Ratings page.
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