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Fly News Breaks for October 23, 2019
PCAR
Oct 23, 2019 | 09:15 EDT
Buckingham analyst Neil Frohnapple raised his price target for Paccar to $80 from $70 and maintained a Neutral rating following stronger than expected Q3 results. In a research note to investors, Frohnapple says he is leaning more positive on Paccar overall, as he thinks the expected decline in global truck production in 2020 is widely understood and thinks the stock can outperform other industrials ahead of a recovery in Class 8 net orders.
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