BMO Capital analyst John Joyner raised the firm’s price target on Paccar to $81.50 from $60 and keeps a Market Perform rating on the shares. The analyst cites the company’s Q1 earnings beat, the easing of supply-chain tightness and the management’s positive statements around gross profitability and this year’s industry assumptions, but also believes that these positive attributes seem currently captured in its stock.
Published first on TheFly
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