Evercore ISI upgraded Paccar (PCAR) to Outperform from In Line with a price target of $129, up from $99. The firm adjusted ratings in the machinery sector, saying a Trump win and “Red sweep” requires less caution but not broad bullishness with the current starting point challenging. Evercore favors small caps and domestic oriented stories over global players “with less compelling valuations.” The firm says Trump’s policies “undoubtedly will have wildcard implications hard to handicap in one’s models.”
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Read More on PCAR:
- Deere appoints R. Preston Feight to board of directors
- Paccar management to meet with Jefferies
- Paccar price target raised to $107 from $103 at Truist
- Paccar price target lowered to $126 from $135 at Morgan Stanley
- Paccar price target lowered to $122 from $125 at JPMorgan
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