Stifel analyst J. Bruce Chan lowered the firm’s price target on Landstar System (LSTR) to $127 from $130 and keeps a Hold rating on the shares. Landstar reported adjusted EPS lower than the firm’s and Street’s forecasts, but total revenue, gross profit, and EBIT were all roughly in line with the firm’s model and the firm argues that it “was no surprise that demand and spot rates were generally weak through the quarter.”
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