Truist analyst Jamie Cook raised the firm’s price target on Paccar (PCAR) to $108 from $97 and keeps a Hold rating on the shares after its Q3 earnings beat. The company benefits from Section 232 beginning November 1st, which helps alleviate tariff costs for the remaining two months of the fourth quarter and beyond, but more importantly, Section 232 for heavy- and medium-duty trucks provides Paccar with a structural cost advantage and market share opportunity as it produces over 90% of its trucks in Texas, Ohio and Washington vs. peers with an international manufacturing footprint, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCAR:
- Core Scientific upgraded, HP downgraded: Wall Street’s top analyst calls
- Paccar price target raised to $103 from $100 at UBS
- Paccar price target raised to $108 from $103 at JPMorgan
- Paccar upgraded to Peer Perform from Underperform at Wolfe Research
- PACCAR Reports Strong Parts Revenue Amid Earnings Decline