Paccar price target raised to $92 from $90 at Citi

Citi raised the firm’s price target on Paccar to $92 from $90 and keeps a Neutral rating on the shares-post the Q3 report. The analyst cites higher assumed through cycle returns and earnings for the target raise. The prospect that Q3 marked this cycle’s peak in gross margins could limit multiple expansion, however, the analyst tells investors in a research note.