Paccar price target raised to $125 from $120 at Citi

Citi raised the firm’s price target on Paccar (PCAR) to $125 from $120 and keeps a Neutral rating on the shares. The firm updated estimates, price targets, and ratings to coincide with its 2025 machinery outlook. Citi’s top picks include companies for which it has the highest degree of confidence in long-term earnings growth and/or self-help catalysts. It thinks caution is warranted heading into 2025, saying moderating inflation is not necessarily good for machinery.