Wells Fargo Downgrades Ryder Systems (R) to Market Perform; Lacking Visibility on Stabilization or Acceleration

Wells Fargo downgraded Ryder Systems (NYSE: R) from Outperform to Market Perform, price target rage $41-45 from $62-65.

Analyst, Anthony P. Gallo, said, "We think operational changes at Ryder over the past several years leave them in a stronger position to profitably manage through various stages of the equipment cycle. Over our 6-12 month investment horizon we believe concern regarding the current "pause" in the pace of equipment activity may weigh on the shares."

"We are lowering our Q2 2012E to $0.95 from $1.11 and full year 2012 to $3.71 from $4.10. Our 2013 EPS estimate drops to $4.12 from $4.80." (Last night, the company cut Q2 and FY guidance)

For an analyst ratings summary and ratings history on Ryder Systems click here. For more ratings news on Ryder Systems click here.

Shares of Ryder Systems closed at $40.75 yesterday.

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