UPDATE: Goldman Sachs Downgrades Landstar System (LSTR) to Sell
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Goldman Sachs analyst Jordan Alliger downgraded Landstar System (NASDAQ: LSTR) from Neutral to Sell with a price target of $140.00 (from $143.00).
The analyst comments "We downgrade Landstar to a Sell Rating (from Neutral prior) with a $140 price target (from $143 prior). LSTR is a high quality, asset-light business with below-peer-average cyclicality, but given where we currently sit in the spot trucking cycle and in conjunction with our asset-based truckload downgrades, we believe the risk/reward is less favorable in the near term relative to other names in our coverage universe. Net/net, our revised $140 price target for LSTR implies 13.5% downside risk to the stock vs. 10% upside potential on average for our coverage universe."
Shares of Landstar System closed at $162.00 yesterday.
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