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Upgrade Alert for PACCAR (PCAR)

By Nick Russo

PACCAR (NASDAQ:PCAR) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $55.84 on volume of 2.4 million shares, above average daily volume of 2.2 million.

There is potential upside of 4.9% for shares of PACCAR based on a current price of $55.84 and an average consensus analyst price target of $58.55. The stock should find initial support at its 50-day moving average (MA) of $54.62 and further support at its 200-day MA of $53.60.

In the past 52 weeks, shares of PACCAR have traded between a low of $43.46 and a high of $67.17 and closed yesterday at $55.84, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.3% lower and 0.82% higher over the past week, respectively.

PACCAR Inc designs, develops, manufactures, and distributes light-, medium-, and heavy-duty trucks, and related aftermarket distribution of parts. The Company also offers finance and leasing services to its customers and dealers.

SmarTrend is monitoring the recent change of momentum in PACCAR. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of PACCAR in search of a potential trend change.

Keywords: analyst upgrades/downgrades paccar

Ticker(s): PCAR