Paccar price target lowered to $90 from $96 at Morgan Stanley

Morgan Stanley analyst Angel Castillo lowered the firm’s price target on Paccar (PCAR) to $90 from $96 and keeps an Equal Weight rating on the shares following the company’s “better than feared” Q2 results and outlook. However, second half assumptions “look aggressive to us,” adds the analyst, citing regulatory, tariff and end-market demand uncertainty.