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Fly News Breaks for December 5, 2019
Dec 5, 2019 | 05:40 EDT
Goldman Sachs analyst Jordan Alliger initiated coverage of Landstar System with a Sell rating and $105 price target. Landstar is a high quality, asset-light business, but given the current challenges facing the spot trucking market, coupled with a "highly uncertain" macro environment, the stock's risk/reward is less favorable in the near term relative to other names in the space, Alliger tells investors in a research note. The analyst points out that the company's business is entirely exposed to the spot market.