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The Ratings Game: Paccar double downgraded at BofA Securities on downbeat outlook in a post-COVID-19 vaccine world

Paccar Inc. Shares of Paccar Inc. fell Friday, after BofA Securities analyst Ross Gilardi did an about-face on the truck maker, recommending investors sell on the belief truck stocks could lag in a post-COVID-19 vaccine world. Gilardi said that while Paccar is an “excellent” company with a strong balance sheet, the stock is “a bit too defensive to work” relative to the rest of the machinery sector in an accelerating demand environment.

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