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Fly News Breaks for January 3, 2017
PCAR
Jan 3, 2017 | 07:52 EDT
As previously reported, Baird analyst David Leiker downgraded PACCAR to Neutral from Outperform citing a negative risk/reward heading into 2017. The analyst noted truck company valuations are near historic highs, which typically gives way to multiple compression and negative stock performance over the next 12 months. Leiker raised his price target to $62 from $60 on PACCAR shares.
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