Credit Suisse analyst Jamie Cook downgraded Paccar to Neutral from Outperform with a price target of $105, down from $107. The analyst notes Paccar’s stock is up 18% over the past three months. With the stock near all-time highs, he believes the market appropriately recognizes Paccar as a high-quality industrial with improved through cycle margins and earnings reflecting strategic investments in next generation products and growth in the aftermarket/parts business. While Cook acknowledges that Paccar continues to successfully manage supply chain challenges and inflationary pressures, he believes "the best is behind us" in terms of trucking fundamentals.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PCAR:
- Paccar downgraded to Underperform from Peer Perform at Wolfe Research
- Paccar price target raised to $120 from $105 at Raymond James
- Early notable gainers among liquid option names on December 14th
- Paccar upgraded at Morgan Stanley on resilient Class 8 market
- Paccar upgraded to Overweight from Equal Weight at Morgan Stanley