Skip to main content

Market Overview

Goldman Sachs Lowers PT on PACCAR to $60 (PCAR)


Goldman Sachs is out with its report today on PACCAR (NASDAQ: PCAR), lowering its price target from $65 to $60.

In a note to clients, Goldman Sachs writes, "PCAR was down 8% yesterday (S&P +2%) as weaker 4Q margins and outlook prompted concerns over raw material inflation, pricing power, and cost control. We reduce our 2012E EPS by 8% but maintain our Neutral rating as we are constructive on the global truck cycle and believe tight used truck inventories will ultimately provide truck manufacturers with pricing power to cover inflation. We lower our 12-month target to $60 from $65 prior based on 9.2x 2012E EV/EBITDA (unchanged). PCAR is trading at 11.2x/ 7.7x 2011-12 EV/EBITDA, premiums of 21%/ 6% to Machinery vs. a modest premium historically."

At the time of posting, shares of PCAR were trading at $52.27, up 0.62% from Tuesday's close.


Related Articles (PCAR)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs PACCARAnalyst Color Price Target Analyst Ratings

Latest Ratings

FSRMorgan StanleyMaintains40.0
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at