PACCAR Stock Upgraded: What You Need to Know

PACCAR Stock Upgraded: What You Need to Know

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

PACCAR (NASDAQ: PCAR) stock crashed 8% after the company reported earnings last month, and hasn't really recovered much since. This morning, however, some good news arrived.

So far since earnings, two analysts -- Evercore ISI and Seaport Global Securities -- have used PACCAR's earnings report as an excuse to downgrade the stock. But breaking with that sentiment, this morning Argus Research announced it is upgrading PACCAR stock and assigning it a price target of $82 per share.

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Source: Fool.com