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Fly News Breaks for July 2, 2019
Jul 2, 2019 | 07:48 EDT
Loop Capital analyst Jeffrey Kauffman downgraded Ryder Systems to Hold from Buy and lowered his price target on the shares to $62 from $70. In a research note to investors, Kaufman says that despite more positive headlines on trade this past weekend, he continues to see a broader-based deterioration in the level of activity across key global economies and the U.S. economy, leading to continued high inventories across multiple industries. The net impact of this has bee broadening out in levels of weaker demand for both rail and truck traffic, the result of slower industrial production, and creates a more problematic outlook.
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