UPDATE: Baird Downgrades Landstar System (LSTR) to Neutral
- Wall Street ends near flat on cautious note ahead of Fed
- FedEx (FDX) Falls 3% as Q1 EPS Misses, Outlook Lowered on Higher Labor Costs
- DraftKings (DKNG) made a $20B cash and stock offer for Entain - CNBC
- Buy the Dip in Tech Stocks - Wedbush
- Apple (AAPL): Analysts Weigh in on iPhone 13 'Lengthy' Delivery Times, US Customers Facing Up to 5 Weeks Wait for Pro and Pro Max
Baird analyst Benjamin Hartford downgraded Landstar System (NASDAQ: LSTR) from Outperform to Neutral, PT $182.00.
The analyst comments "After the strong YTD outperformance and positive EPS revisions, investors should increasingly favor names which benefit from structural changes in demand and offer company-specific opportunities to improve profitability and drive market share gains. Top ideas FDX/NSC among large-caps and HUBG/KNX among the smid-caps are consistent with this view and still offer attractive upside. However, we would selectively reduce exposure where cyclical momentum is more fully reflected in estimates/valuations and are downgrading LSTR/HTLD to Neutral today."
Shares of Landstar System closed at $180.52 yesterday.
You May Also Be Interested In
- UPDATE: Jefferies Downgrades Oshkosh (OSK) to Hold
- UPDATE: Jefferies Downgrades Zumiez, Inc. (ZUMZ) to Hold
- UPDATE: Oppenheimer Starts Golub Capital BDC (GBDC) at Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesRobert W Baird
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!