Paccar price target raised to $100 from $90 at BMO Capital

BMO Capital analyst John Joyner raised the firm’s price target on Paccar to $100 from $90 but keeps a Market Perform rating on the shares. The analyst cites the company’s better-than-expected results in Q4, easing supply-chain tightness, and management’s positive statements around gross profitability and industry assumptions for 2023. The firm adds however that many of Paccar’s strong attributes are already captured in its stock, which has been "resilient over the past year".