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

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”…

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