Landstar System (LSTR) PT Raised to $153 at Cowen Ahead of Tough Comps in 2H21
- Wall Street ends lower as investors await earnings, inflation data
- Microsoft (MSFT) announces $19.7 billion acquisition of Nuance (NUAN)
- Alibaba (BABA) Gets a Record $2.8 Billion Anti-Monopoly Fine, Shares Soar as a 'Major Overhang' is Lifted
- Tesla (TSLA) Upgraded to 'Buy' at Canaccord Genuity and PT Raised by 155%, as it 'Holds a Several-Year Lead' in EV While Storage Business Accelerates
- Dollar drops as traders prepare for inflation data
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Cowen analyst Jason Seidl raised the price target on Landstar System (NASDAQ: LSTR) to $153.00 (from $131.00) after the company reported 4Q revenue growth of ~30%, beating the consensus forecast by ~8%. Upside was driven by 43.6% growth in its TL Van segment,and 34% growth in its Ocean and Air Cargo segment. Adj. EPS of $1.70 beat expectations of $1.67 and was roughly in line with the consensus forecast. Guidance for 1Q21 was also above expectations.
The analyst reiterated a Market Perform rating, stating "Looking at 2H21, LSTR anticipates a softening in truckload pricing in mid-to-late summer,due to the spike in rates experienced in 2020. While they are correct to be leery of tougher comps we would not be surprised to still see growth in 2H21."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JinkoSolar Holding Co., Ltd. (JKS) PT Lowered to $10.39 at GLJ Research
- Container Corp. of India (CCRI:IN) PT Raised to INR570 at Goldman Sachs
- Nanya Technology Corp (2408:TT) PT Raised to NT$150 at BofA Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!