Jefferies Lifts Pirce Target On Ryder Systems (R) to $69

Jefferies raised its price target on Buy-rated Ryder Systems (NYSE: R) from $64 to $69 following solid Q2 results.

The firm commented, "R beat 2Q consensus by nearly 20% and guided 2H roughly 11% above consensus. Commercial Rental and used truck sales continue to drive near term earnings momentum, with acquisitions now also contributing to the upside. Late cycle leasing leverage is still ahead of us, which has the potential to double EPS from LTM levels. All considered, we liked what we saw."

For more ratings news on Ryder Systems click here and for the rating history of Ryder Systems click here.

Shares of Ryder Systems closed at $57.88 yesterday.

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