Paccar price target raised to $132 from $125 at JPMorgan

JPMorgan raised the firm’s price target on Paccar (PCAR) to $132 from $125 and keeps an Overweight rating on the shares after hosting meetings with management. The firm left with a “reinforced view” that the underlying Class 8 truck market is on the cusp of a recovery in North America, driven by replacement demand and upcoming regulatory changes.