Fitch Affirms Ratings on Ryder System (R) Following Review; Outlook Remains Stable
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FBR Capital Cuts Price target on Ryder System (R) to $115 Following 3Q Pre-Announcement
October 13, 2015 6:50 AM EDTFBR Capital reiterated an Outperform rating on Ryder Systems (NYSE: R), and cut the price target to $115.00 (from $130.00), following the company's 3Q15 pre-announcement. Used truck sales slowed for Ryder, particularly in September, and sales for the quarter fell 7% below Ryder's projections. After a very robust 1H15, used truck pricing moderated back more in line with 2014 levels.
Analyst John Mims commented, "We are... More
