As previously reported, BofA upgraded Paccar (PCAR) to Buy from Neutral with a price target of $121.50, up from $116. Shares underperformed in 2024 and while pricing risks likely linger in the first half, the firm expects truck green shoots to emerge in 2025 and to provide visibility to growth in 2026. Paccar is “one of the few OEMs in our sector likely to report a new peak EPS next year,” the analyst added.
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