Paccar price target lowered to $121 from $132 at JPMorgan

JPMorgan analyst Tami Zakaria lowered the firm’s price target on Paccar (PCAR) to $121 from $132 and keeps an Overweight rating on the shares. Waiting for clarity on tariffs “might lead us to wait too long to reduce estimates” as ongoing uncertainty is impacting sentiment and orders, the analyst tells investors following fireside chats and investor meetings at the firm’s annual Industrials Conference last week. However, the firm sees Paccar shares “hovering near stress case value again” and would be buyers of any pullback, the analyst added.