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Fly News Breaks for October 15, 2019
KSU, SAIA, UNP
Oct 15, 2019 | 09:26 EDT
Raymond James analyst Patrick Tyler Brown tells investors in a research note that truck pricing and volume pressures are expected to weight on near-term results in the Transportation Services space, saying that following another quarter of challenging freight conditions and contractual truckload renewals likely firmly in negative territory y/y, "we are generally not expecting much to write home about this quarter." He thinks attention will center around any update on truckload capacity, especially in the wake of what he sees as early signs of capacity rationalization between net truck orders well below replacement, plateauing truck transportation employment and a host of potential regulatory impacts. The analyst raised his price target on Saia (SAIA) to $105 from $85 and on Kansas City Southern (KSU) to $151 from $141 and lowered his price target on Union Pacific (UNP) to $188 from $197.
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