Bobby Harvey
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Bobby Harvey in Hot Wheels,

Paccar Shares Keep On Trucking, Despite Recent Outperformance

PACCAR Inc PCAR shares, despite trading at a multiple above the five-year historical average, still offer room for further upside, Argus said in a Monday morning note.

PACCAR outperformed over the past quarter, adding 6 percent compared to the S&P 500's 4 percent, said analyst John Eade.

Argus upgraded its rating on the shares of PACCAR from Hold to Buy with a $82 price target. Read more

There is a breakout of the rising channel. But consolidation seems like the best scenario for this.