PACCAR rises after BofA Global Research upgrades to 'buy'

PACCAR

14/01/2025 13:13

** Shares of truck-maker PACCAR  PCAR.O  rise 1.76% to $110
in premarket trade
    ** Brokerage BofA Global Research upgrades stock rating on
PCAR to "buy" from "neutral" 
        ** BofA says the truck market will be first to balance
in an end machinery market which is contending with too much
equipment amid slowing demand
  
        ** says PCAR is one of the few original equipment
manufacturers likely to report "a new peak EPS" in 2026
  
    ** Brokerage also raises truck engine maker Cummins  CMI.N 
to "neutral" from "underperform" citing "positive view" on the
U.S. truck production cycle
    ** PCAR was up 6.52% in 2024

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))