Citigroup Maintains Neutral Rating for PACCAR: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained its Neutral rating for PACCAR (NASDAQ:PCAR) and raised its price target from $88.00 to $90.00. PACCAR's shares are currently trading up 0.67% at $85.17 per share. A move to $90.00 would account for a 5.66% increase from the current share price.
July 27, 2023 | 5:01 pm
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Citigroup's maintained Neutral rating and increased price target for PACCAR could potentially lead to a positive short-term impact on the company's stock.
Citigroup's decision to maintain a Neutral rating indicates that they believe PACCAR's stock is fairly valued at current prices. However, the increase in price target from $88.00 to $90.00 suggests that they see potential for the stock's price to increase in the short term. This could lead to increased investor interest and potentially a rise in the stock's price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100