Morgan Stanley Sees PACCAR As Preferred Truck Name During Summer

In a report published Friday, Morgan Stanley analyst Nicole DeBlase reiterated an Overweight rating and $73.00 price target on PACCAR PCAR. In the report, Morgan Stanley noted, “This week, we flew out to Denton, TX for PCAR's triennial investor conference. In this note, we highlight six key takeaways from the event. We remain cautious on all Truck names during the summer slump period, but PCAR is our preferred way to play NAFTA Class 8 re-acceleration.” PACCAR closed on Thursday at $63.42.