UPDATE: Goldman Sachs Raises Target to $47 on PACCAR

Goldman Sachs maintains its Neutral rating on PACCAR PCAR and raises its price target to $47 (previously $43) on recalibrated margin expectations and a more balanced risk-reward ratio. Goldman Sachs says, "We raise our 2012E/2013E EPS by 8% to $3.10/$3.50 due to an improved outlook for US truck capex, as greater Europe truck production cuts and margin headwinds were already in our estimates. We introduce 2014 EPS of $4.00." PCAR closed at $44.20 a share yesterday.
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Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsGoldman Sachs
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