Paccar rises after JP Morgan upgrades to 'overweight'

Truck maker Paccar PCAR.O rises 1.6% to $111.65 premarket after J.P. Morgan upgrades stock to "overweight"

Brokerage raises PT to $133 from $108, the highest among all analysts covering the stock

New PT is a 19.3% upside to stock's last close of $111.5

Expects margin recovery following Section 232 tariff changes and a return to positive pricing

Says "supermajority" of tariff-related headwinds this year to be offset next year

Competitors will need to raise prices by more than $10,000 for truck imports in U.S., even if they are able to mitigate tariff-related costs, helping PCAR win market share - JPM

7 of 21 brokerages rate stock "buy" or higher, 13 "hold" and 1 "sell"; median PT is $110

As of last close, stock up 8.6% YTD