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Truist raised the firm’s price target on Paccar (PCAR) to $112 from $110 and keeps a Hold rating on the shares as part of a broader research note previewing Q4 results for Machinery, Infrastructure Services, and Multi-Industry / Industrial Technology names. The firm notes that estimates for the sector are largely intact and Truist believes that consensus estimates for 2025 are reasonable, adding that the management outlooks will be cautiously optimistic with short cycle industrial destock over and organic growth improving as the year progresses, the analyst tells investors in a research note. In Machinery, there are still pockets of excess channel inventory like farm and construction equipment, while Infrastructure Services names will continue to benefit from secular growth tied to power generation, data centers, and broad-based infrastructure, the firm added.
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