Outbound Links to Authority Sites

Should Outbound Links to Authority Sites have a specific anchor text?

Doesn't matter.

Anchor texting is always a preferred SEO strategy but for outbound links it is not strictly recommended. It's on you wheather or not you are anchor texting for outbound links.

Like the other guys said, it really doesn't matter.

If you ever get curious, check out the anchor text footprint of the major sites like Newegg or Microsoft. Authority sites go for branded links.

I tend to put an anchor link for the same keyword im going for; to a PR4 or higher; on a page 5-6-7-8. This way he's not necessarily my competitor; but its a similar type site with similar type key.

If they are not your competitor it doesn't matter. If you have a site network to avoid footprints you may want to link out to other sites the same way you link to yours. So if you link to yours with an anchor text you link to the others with an anchor text. Then again if their are competitors you don't want to link to them with an anchor text. So, if I am competing with Amazon for "canon ixus X123" which is a digital camera I would not link to them with that keyword and I would not link to their ranking page but other page that doesn't rank (for example the offers page or the user reviews page) and use something like "see on Amazon" for the anchor text. That way you will link to competitors to avoid footprints but not help them much.