Jefferies analyst Stephanie Moore lowered the firm’s price target on Landstar System (LSTR) to $150 from $170 and keeps a Hold rating on the shares. While truckload demand and volumes will likely be a continued soft spot in Q1, the firm is encouraged by the relative resilience in tender rejection rates and load-to-truck ratios, the analyst tells investors in a preview for the group. Pointing to these facts as a sign that supply-demand equilibrium is closer today than it was in 2023-24, the firm would expect spot rates to rise in the months ahead, the analyst added.
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