Stifel Resumes Daseke (DSKE) at Hold
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Stifel analyst Joseph W. DeNardi resumes coverage on Daseke (NASDAQ: DSKE) with a Hold rating and a price target of $8.50.
The analyst comments "We are resuming coverage of Daseke, Inc. (DSKE) with a Hold rating and $8.50 target price. Daseke is a truckload carrier that focuses on the Flatbet and Specialized segments, making the carrier much more exposed to the industrial economy than most of its peers. Daseke utilizes both asset-based and asset-light services for freight moves. In our view, Daseke has very strong demand tailwinds, aided by a rebound in manufacturing activity and a likely infrastructure bill that should extend that demand cycle. Over the past several quarters, Daseke has been working on a turnaround that is aimed at integrating its operating units and improving its future profitability under a new management team and interim CEO. We believe this turnaround is on the right track but that it introduces execution risk in the nearer-term and could limit its ability to fully capitalize on increased industrial spending as it right-sizes its business."
Shares of Daseke closed at $6.69 yesterday.
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