PACCAR initiated with "neutral"

07/08/09 - Robert W. Baird

NEW YORK, July 8 (newratings.com) - Analysts at Robert W Baird initiate coverage of PACCAR Inc (PCAR) with a "neutral" rating. The target price is set to $32.

In a research note published this morning, the analysts mention that the company’s superior brand positioning enables it to register long-term market share gains in North America and Europe. PACCAR is likely to implement its expansion strategy in Asia soon, the analysts say. The company continues to have a healthy balance sheet and faces several opportunities to expand its market share further, Robert W Baird adds.