Rush Enterprises (RUSHA): NDR Hints That 2017 Could Be The Bottom Of The Cycle - BMO
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BMO Capital analyst, Joel Tiss, reiterated his Outperform rating on Rush Enterprises Inc. (NASDAQ: RUSHA) after spending a day with Rush management trying to gauge the status of the current truck cycle and the relevance of the recent alliance announcement between Volkswagen and Navistar.
The analyst learned that the North American market continues to battle with excess used truck inventory and weak demand from lowered freight rates. However, with the emission standards driven pre-buy expected to start in 2018, 2017 could potentially be the bottom of the cycle.
No change to price target of $25.
Shares of Rush Enterprises Inc. closed at $22.77 yesterday.
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