Piper Jaffray Initiates Coverage on Universal Truckload Services (UACL) with a Neutral; Mix of Brokerage and Intermodal attractive
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Piper Jaffray initiates coverage on Universal Truckload Services (Nasdaq: UACL) with a Neutral. Price target $17.
Piper analyst says, "UACL is a high variable cost Light Asset Based provider of transportation services utilizing a network of outside capacity including owner operators and brokerage within Truckload, Truck Brokerage, and Intermodal markets. We believe UACL can greatly improve its earnings, cash flow, and financial returns profile over the longer term. We believe UACL to have a winning formula. UACL's Light Asset Based model will likely enable the company to grow its top line and profits at a faster and more consistent rate than pure Asset owning transport providers, and eventually generate strong levels of free cash and higher end financial returns. We believe there is material room for UACL to grow its size, scale, and longer term valuation in years to come...Acquisition strategy will boost growth...Longer term valuation expansion. We believe UACL, given a longer track record of high end earnings growth generation combined with improving free cash flow generation, should see longer term valuation expansion. UACL has historically traded at a discount to its closest comp LSTR (which has a longer track record); however, we believe this valuation gap could narrow over time."
To see more analyst ratings on UACL Click Here.
Universal Truckload Services, Inc., through its subsidiaries, operates as an owner-operator and agency based truckload motor carrier in the United States and in the Canadian provinces of Ontario and Quebec.
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