TD Newcrest Upgrades Vitran Corp. (VTNC) to Buy; Share Price Depreciation Presents Buying Opportunity

TD Newcrest upgraded Vitran Corp. (NASDAQ: VTNC) from Hold to Buy, price target lowered from $13 to $8.

TD analyst says, "Vitran reported weaker than expected Q2/11 results due primarily to near-term growing pains (integration and expense issues) associated with the company’s transition into a more robust regional U.S. LTL carrier. Since then, the stock has fallen approximately 66% (also due to broader market weakness driven by European contagion fears). We believe the stock has arguably discounted an overly pessimistic business outlook for the company despite the presence of gradually improving industry/economic fundamentals."

For more ratings news on Vitran Corp. click here and for the rating history of Vitran Corp. click here.

Shares of Vitran Corp. closed at $4.90 yesterday.

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