Paccar price target raised to $81.50 from $60 at BMO Capital

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.