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Bernstein reiterates Outperform rating on PACCAR stock at $138 target
Bernstein analyst Chad Dillard has reiterated an Outperform rating on PACCAR (NASDAQ:PCAR) with a $138 price target following the company’s 2026 analyst day. The analyst highlighted PACCAR’s Parts strategy, which aims to reduce cyclicality and improve profitability, potentially increasing earnings per share by 33% by 2030. Despite recent positive revenue performance, Bernstein believes the stock is currently undervalued at 17 times earnings.