Paccar price target raised to $140 from $135 at JPMorgan

JPMorgan analyst Tami Zakaria raised the firm’s price target on Paccar to $140 from $135 and keeps an Overweight rating on the shares as part of a Q1 earnings preview the trucks group. The firm is positive into the print and raised estimates across the board. The cohort from the last Class 8 cycle peak is entering the replacement age, and demand remains resilient among less than truckload operators, the analyst tells investors in a research note.