Ryder initiated with an Overweight at Barclays

Barclays analyst Brandon Oglenski initiated coverage of Ryder (R) with an Overweight rating and $190 price target Ryder appears to be executing on a revised operating strategy emphasizing transportation services, with a “large, flexible asset base that should position the company favorably in a potential upcycle,” the analyst tells investors in a research note. The firm believes the company is positioned to benefit from a potential freight recovery and increased trade barriers. Given momentum in Ryder’s transportation segments, the shares will outperform Street expectations over the next year, contends Barclays.