- Deutsche Bank analyst Nicole DeBlase lowered PACCAR Inc’s (NASDAQ:PCAR) price target to $85 (implying an upside of 3.9%) from $93 and maintained a Hold rating on the shares after the company preannounced Q3 deliveries.
- DeBlase mentions, while management had not previously provided Q3 delivery guidance, they noted that production was projected flattish quarter-over-quarter.
- She further adds it is unclear from the release whether production is also falling short of expectations. She thinks that this is likely.
- Wolfe Research analyst Scott Group upgraded PACCAR to Outperform from Peer Perform and price target of $96, implying an upside of 17.3%.
- The analyst expects supply chain disruptions to continue “well into” 2022.
- He says Q3 may represent the peak of supply chain headwinds, and if the headwinds do start to ease, he expects the laggards in transports this year to outperform again.
- Price Action: PCAR shares are trading higher by 4.11% at $82.02 on the last check Tuesday.
Wedbush Maintains Outperform on Uber Technologies, Raises Price Target to $40
Wedbush analyst Daniel Ives maintains Uber Technologies (NYSE:UBER) with a Outperform and raises the price target from $38 to $40.
