Morgan Stanley Lowers Price Target On PACCAR On Great Expectations

In a report published Monday, Morgan Stanley analyst Nicole DeBlase reiterated an Overweight rating on PACCAR (NASDAQ: PCAR), but lowered the price target from $73.00 to $70.00.

In the report, Morgan Stanley noted, “A low quality beat was not enough for a fairly crowded name like PCAR, but we do believe it is likely that investors will continue to hide out in the stock as shelter from the ongoing crude storm. Maintain OW given 16% upside to our $70 price target.”

PACCAR closed on Friday at $60.11.