Landstar System initiated with an Equal Weight at Barclays

Barclays initiated coverage of Landstar System (LSTR) with an Equal Weight rating and $145 price target Landstar’s exclusive business arrangements and less variable cost base position the company to outperform during the next upcycle, especially if management can restore dedicated truck capacity to prior levels, the analyst tells investors in a research note. The firm finds the stock trading relatively in line as compared to peers and historic levels, but believes management has favorably positioned the company to take advantage of potentially higher trucking rates next year.