UPDATE: JPMorgan Upgrades Heartland Express (HTLD) to Overweight
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JPMorgan analyst Brian Ossenbeck upgraded Heartland Express (NASDAQ: HTLD) from Neutral to Overweight with a price target of $20.00.
The analyst comments "Heartland is a best-in-class carrier with industry leading operating margins, in large part because they have a relatively strict hiring process for experienced drivers. The company appears set to continue M&A at a smaller scale compared to GTI and IDC, which expanded Heartland’s geographic reach to the West Coast. The 2019 Millis acquisition is an example of this strategy. Over the long term, we expect Heartland will benefit from a continued shift to shorter length of haul freight activity with high service levels, fueled by e-commerce."
Shares of Heartland Express closed at $17.13 yesterday.
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