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Fly News Breaks for December 13, 2018
LSTR
Dec 13, 2018 | 07:18 EDT
As reported yesterday, SunTrust analyst Stephanie Benjamin initiated Landstar System with a Hold rating and a $105 price target. The analyst sees "limited catalysts" for the company to outperform its TL grade peers since Landstar "operates predominately in the spot market" where freight rates are set to moderate in 2019. Benjamin also notes that her implied target assumes a 15-times forward earnings multiple, which is the low end of the 15- to 22-times multiple range on the stock.
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