What To Know About B of A Securities's Upgrade of PACCAR
Portfolio Pulse from Benzinga Insights
B of A Securities upgraded PACCAR (NASDAQ:PCAR) to Neutral with a new price target of $97.00, up from the previous $84.00. PACCAR's shares are currently trading at $95.83, and the new target suggests a modest 1.22% upside. PACCAR is a major truck manufacturer with significant market share in North America and Europe, and also offers financial services through Paccar Financial Services.
January 19, 2024 | 5:00 pm
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POSITIVE IMPACT
PACCAR was upgraded by B of A Securities to Neutral with a raised price target of $97.00, indicating a potential upside of 1.22% from the current trading price of $95.83.
The upgrade by B of A Securities is a positive signal for investors, suggesting improved prospects for PACCAR. The new price target is close to the current trading price, reflecting a belief in the stock's stability and potential for modest growth. Given the nature of analyst upgrades, this news is likely to be seen positively by the market, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100