Paccar price target lowered to $97 from $106 at RBC Capital

RBC Capital lowered the firm’s price target on Paccar (PCAR) to $97 from $106 and keeps a Sector Perform rating on the shares after its Q1 earnings miss. The company faces substantial near-term headwinds due to a tariff-induced mismatch between backlog prices and costs, as well as from an incrementally more challenging environment for volumes in North America, the analyst tells investors in a research note.