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Fly News Breaks for July 6, 2018
CVTI
Jul 6, 2018 | 08:50 EDT
Stephens analyst Brad Delco said Covenant Transportation's acquisition of Landair enhances the company's portfolio with more dedicated and asset-light services, adding that he believes Landair's earnings are less cyclical than Covenant's prior to the deal. While he tends to be an advocate of paying down debt during stronger parts of the truck cycle, he thinks Covenant's leverage is manageable, Delco tells investors. He keeps an Overweight rating and $38 price target on Covenant shares.
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