Paccar price target lowered to $105 from $112 at Citi

Citi lowered the firm’s price target on Paccar to $105 from $112 and keeps a Neutral rating on the shares. The firm reduced its commercial vehicle estimates citing a “sluggish” freight market to start the year. Dealers are in “order paralysis” pending clarity on the Trump administration tariff policy and potential changes to EPA27 regulation, the analyst tells investors in a research note. Citi’s new estimates suggest the most downside risk to Street estimates for Paccar (PCAR). The firm sees less downside risk to 2025 estimates for both Cummins (CMI) and Allison Transmission (ALSN). Cummins remains Citi’s lone Buy rating, as it views the company as best positioned to weather potential downside in the North America truck market.