UPDATE: Goldman Sachs Downgrades Landstar System (LSTR) to Sell

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."

For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.

Shares of Landstar System closed at $162.00 yesterday.

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