PACCAR shares are trading lower after Truist Securities maintained a Hold rating on the stock and lowered its price target from $115 to $107. The stock may be moving on continued weakness after the company yesterday reported worse-than-expected Q2 financial results.
Portfolio Pulse from Benzinga Newsdesk
PACCAR shares are trading lower after Truist Securities maintained a Hold rating on the stock and lowered its price target from $115 to $107. The stock is also reacting to worse-than-expected Q2 financial results reported by the company.
July 24, 2024 | 2:31 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
PACCAR shares are trading lower due to Truist Securities lowering its price target from $115 to $107 and maintaining a Hold rating. The decline is also influenced by the company's worse-than-expected Q2 financial results.
The combination of a lowered price target and disappointing Q2 financial results is likely to negatively impact PACCAR's stock price in the short term. Investors may react to the downgraded outlook and the company's underperformance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100